ISLAMABAD: The 100-index of the Pakistan Stock Exchange (PSX), after hitting the six-year high upper limit and then slid down by 200 points with a bearish trend on Tuesday. In the middle of the day, the index crossed the 50,000 level, being earlier seen six years before in June 2017.
However, after profit-taking by the investors, the index came down below the last-day level. At close, the index settled at 49,531.01 with a negative change of 0.40 percent, against 49,731.35 points the previous day.
During the day, a total of 368,340,627 shares valuing Rs 10.404 billion were transacted as compared to 467,383,787 shares valuing Rs 14.119 billion last day.
Bearish and Bullish Trend at PSX
After continuing the bullish trend for the last couple of days, the market carried forward the upward sentiments. However, at the end of the day, the index closed in a bearish trend. On Tuesday, 347 companies traded their shares in the stock market; 149 of them witnessed gains and 186 sustained losses, while the share price of 12 companies remained unchanged.
Like the last day, K-Electric Ltd remained the leader among the top-three trading companies with 65,958,036 shares at Rs 3.11 per share, Pak Int. Bank settled as the runner-up with 21,502,500 shares at Rs 4.61 per share, followed by Maple Leaf with 20,668,090 shares at Rs 35.58 per share.
Rafhan Maize recorded a maximum appreciation of Rs 190.00 per share price, closing at Rs 8,390.00, whereas Philip Morris Pak settled as the runner-up with an increase of Rs 28.50 in its per share price to Rs 609.00.
Bhanero Textile recorded a maximum decline of Rs 37.50 per share, closing at Rs 957.50, followed by Pak Hotels, with a decrease of Rs 36.35 to close at Rs 448.36.
