ISLAMABAD: After a continued bearish sentiment last week, the 100-index of the Pakistan Stock Exchange (PSX) turned around to a bullish trend on Monday gaining 586.79 points with a positive change of 0.98 percent. At close, the index settled at 60,459.75 points compared to 59,872.96 points on Friday.
Meanwhile, on Monday, 261,799,826 shares valuing Rs 9.907 billion were entertained in the market against 314,247,768 shares valuing Rs 12.243 billion the previous day.
In total, 330 companies traded their shares in the market, 170 recorded gains to remain in green, 139 sustained losses, whereas the share prices of 21 remained constant without any change.
PIAC(A) remained the volume leader among the top-three trading companies with 21,406,500 shares at Rs 11.06 per share, WorldCall Telecom settled as the runner-up with 20,034,698 shares at Rs 1.23 per share, whereas Pak Refinery with 15,164,705 shares at Rs 25.33 per share.
Rafhan Maize Products Company Limited recorded a maximum appreciation of Rs 373.35 per share price to settle at Rs 9,739.00, Indus Motor Company Limited settled as the runner-up with an increase of Rs 51.28 in its per share price to Rs 1,501.94.
Nestle Pakistan Limited observed a maximum fall of Rs 289.89 per share, closing at Rs 7,910.11, followed by Pakistan Engineering Company Limited with a decline of Rs 38.25 to settle at Rs 471.75.
Bullish, Bearish Trends at Pakistan Stock Exchange
During the last couple of months, the 100-index mostly witnessed a bullish temperament, whereas the market also witnessed a historic bullish pace by gaining about 60% in the last 6 months.
In the middle of December 2023, the 100-index recorded a bearish trend due to profit-taking. However, in general, the market got over 14000 points during the last two and a half months. In November 2023, the market appreciated by 8000 points, while during the last five months, the 100-index benchmark achieved the historical 24000 points.
Meanwhile, the 100 index crossed several consecutive all-time highs in the recent past. After having a number of records in November, the 100-index surpassed the historic 60000 benchmark. The market continued the same bullish trend in the the first quarter of December,, and byby December 12,, it crossed 5000 points to reach 66000 plus points.
However, from December 13 the market went bearish with a major fall on December 20 (over 2300 points) and on December 22 (over 1100 points), again followed by a bloodbath on December 26 2023, while going down by over 2500 points. Later, the market went bullish to achieve over 2900 points, followed by another historic bullish trend on a single day (January 1) to get over 2200 points. Later, the market swung both ways to date, with a major bearish trend during the last couple of days, where the market lost over 4000 points, followed by a bearish trend on Monday.
