Alam Zeb Khan
ISLAMABAD: After repeated losses last week, Pakistan Stock Exchange (PSX) continued with a bullish trend on Tuesday while gaining 612.06 points with a positive change of 1.59 percent and closed at 39,055.65 against 38,443.59 points on Monday.
On the previous day, the 100-index also gained more than 40 points while turning around the bearish trend from the last week. However, in the first quarter of January, the 100-index received a massive blow and lost more than 2,200 points in three days.
On Tuesday, a total of 179,760,927 shares were transacted against 81,287,333 shares on Monday, whereas the price of shares stood at Rs6.368 billion as compared to Rs2.809 billion on the last trading day.
PSX Bullish Trend
Economy experts say despite bullish trends for the last two days, the market will remain under pressure and will fluctuate in the coming days till Pakistan finalize its talks with the IMF.
Meanwhile, as many as 326 companies traded their shares in the stock market, 225 of them witnessed gains and 74 recorded, while the share price of 27 companies remained unchanged.
The three top-trading companies were Pak Petroleum, Maple Leaf, and WorldCall Telecom with 13,159,970 shares at Rs78.15 per share, 12,487,144 shares at Rs20.50 per share, and 11,869,660 shares at Rs1.14 per share respectively.
Pak Services recorded a maximum appreciation of Rs146.67 per share price, closing at Rs2,130.00, whereas Reliance Cotton stood as runner-up with a rise of Rs48.75 in its per share price to Rs 698.75.
Sapphire Tex witnessed a maximum decline of Rs82.00 per share closing at Rs1,018.00, followed by Wah-Noble with a decrease of Rs11.45 to close at Rs147.50.
Independent experts are of the view that the 100-index will resume its genuine track from the middle of next month.
