ISLAMABAD: After receiving some good news, stock, bullion and currency markets all are on a positive track as the 100-index of the Pakistan Stock Exchange (PSX) got some more strength while gaining 359 points (0.8%0) on Wednesday to settle at 45,514.95 against its last day closing of 45 155.75.
However, both the volume and value of shares traded declined from the previous session.
The market took momentum after the announcement of the $2 billion inflows deposited by Saudi Arabia in Pakistan’s central bank. Meanwhile, on Wednesday evening financial minister Ishaq Dar confirmed another $1bn from UAE, which hopefully would influence the market on Thursday with some more business.
Earlier on Wednesday, most of the top-tier companies opted for buying. These included automobile assemblers, commercial banks, cement, chemical, oil and gas exploration companies and OMCs, while the pharmaceutical and technology sector remained in the red zone.
A total of 450,259,607 shares were transacted as compared to 555,100,181 shares on Tuesday, whereas the price of shares stood at Rs 13.139 billion compared to Rs 15.487 billion on the last trading day.
Bullish Trend at PSX
On Wednesday, 359 companies traded their shares in the stock market, 173 of them recorded gains and 163 experienced losses, whereas the share price of 23 companies remained unchanged.
WorldCall Telecom led the three top-trading companies with 49,959,283 shares at Rs 1.29 per share while Unity Foods Ltd settled as the runner-up with 20,347,892 shares at Rs.22.50 per share, followed by Pak INt. Bulk Ltd with 18,202,500 shares at Rs.4.61 per share.
Rafhan Maize recorded a maximum appreciation of Rs 315.05 per share price, closing at Rs 8,913.00, whereas Colgate Palm settled as the runner-up an increase of Rs 73.78 in its per share price to Rs 1,275.83.
Unilever Foods sustained a maximum decrease of Rs 548.90 per share closing at Rs 22,901.00, followed by Reliance Cotton with a decline of Rs 37.00 per share to close at Rs 458.00.
