ISLAMABAD: After getting over 480 points last day, the 100-index of the Pakistan Stock Exchange (PSX) continued bullish sentiments for the 2nd consecutive day as on Thursday, the index further gained 875.07 points with a positive change of 1.37 percent. At close, the index settled at 64,578.52 points as compared to 63,703.45 points on the last day.
On Thursday, 424,043,562 shares valuing Rs17.053 billion were tackled against 461,390,885 shares valuing Rs 16.000 billion on Wednesday.
In total, 364 companies traded their shares in the stock market; 188 of them closed in green with gains, 161 met losses, while the share prices of 15 remained unchanged.
K-Electric Limited topped the list among the top three trading companies with 54,958,235 shares at Rs.4.90 per share, followed by Hascol Petrol as runner-up with 31,867,000 shares at Rs 8.01 per share, whereas Kohinoor Spinning settled with 19,820,000 shares at Rs 4.69 per share.
Pakistan Services Limited recorded a maximum appreciation of Rs 52.18 per share price to settle at Rs 792.18, whereas Millat Tractors Limited closed as the runner-up with an increase of Rs 42.27 in its per share price to Rs 605.90.
Bata Pakistan Limited experienced a maximum fall of Rs 33.00 per share to settle at Rs 1,667.00, followed by Reliance Cotton Spinning Mills Limited with a decline of Rs 31.45 to close at Rs 460.55.
Bullish Trend at PSX
During the last couple of, the 100-index mostly enjoyed a bullish trend, where the market also experienced a historic bullish pace by gaining about 60% in the last 6 months.
In general, the market got over 14000 points during the last couple of months. In November 2023, the 100-index appreciated by 8000 points, while during the last five months, the market achieved the historical 24000 points.
Meanwhile, the 100 index surpassed several consecutive all-time highs in the recent past. After having a number of records last November, the 100-index crossed the historic 60000 benchmark. The index continued the same bullish trend in the first quarter of December, and by December 12, it surpassed 5000 points to reach 66000 plus points.
However, from December 13 the index went down with a major decline 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 more than 2500 points. Later, the market went bullish to get more than 2900 points, followed by another historic bullish trend on a single day (1st January) to get over 2200 points. Later, the market swung both ways to date, with a major bearish flow during the last couple of days, where the market lost over 4000 points, followed by a bullish trend for the last 8 working days except Tuesday.
