ISLAMABAD: After enjoying three bullish days, the 100-index of the Pakistan Stock Exchange (PSX) turned bearish on Thursday and continued the same downward mood on Friday while losing 265.57 points with a negative change of 0.41 percent. At close the index settled at 65,151.83 points compared to the last day stand of 65,417.40.
On last day of the week, 208,408,686 shares valuing Rs.7.149 billion were transacted against 389,654,899 shares valuing Rs. 11.307 billion on Thursday.
In total, 332 companies entertained their shares in the stock market, 120 of them recorded gains to remain in green, 185 met losses, whereas the share prices of 27 remained unchanged.
Pak Reinsurance settled as the volume leader among the top-three trading companies with 24,162,000 shares at Rs.13.08 per share followed by PIAC(A) with 16,544,000 shares with 25.54 per share whereas PTCL settled as number three from top with 10,930,294 shares at Rs.14.65 per share.
Rafhan Maize Products company Limited recorded a maximum appreciation of Rs.175.00 per share price, closing at Rs.8,400.00, whereas Hoechst Pakistan Limited settled as the runner-up with an increase of Rs.93.87 in its per share price to Rs.1,353.87.
Nestle Pakistan Limited observed a maximum decline of Rs.310.00 per share closing at Rs.7,200.00, followed by Sapphire Textile Mills Limited with a decline of Rs.75.00 per share to close at Rs.1,525.00.
Bullish, Bearish Trend at PSX
Recently, the 100-index swung both way, with dominant bullish sentiments, where the market also reached a historic bullish slot by getting about 60% in last 7 months.
Only in November, 2023, the 100-index got more than 8000 points while during last seven months the market crossed 24000 points.
Meanwhile, the 100-index surpassed several consecutive all-time high recently. After having a number of records, the 100-index covered the historic 66000 benchmark for the first time in the first quarter of December 2024.
However, from December 13 the index went down with a major fall on 20th December (over 2300 points) and on December 22nd (over 1100 points), again followed by a bloodbath on 26th December 2023, while going down by over 2500 points. Later the market turned bullish by over 2900 points followed by another historic bullish trend on a single day (1st January) to get over 2200 points. Later the market oscillated both way between 63000 and 66000.
