ISLAMABAD: Reaching over 54000 points for a short time last day and then sliding down, the 100-index of the Pakistan Stock Exchange (PSX) on Wednesday finally settled above 54000 points while gaining 525.70 points with a positive change of 0.98 percent. At close, the 100-index closed at 54,261.43 points against 53,735.73 points last day.
During the last 5 to 6 days, the 100-index crossed the all-time high for the third time. On Wednesday, a total of 482,744,893 shares valued at Rs20.129 billion were transacted against shares valued at Rs18.259 billion the previous day.
In total, 374 companies traded their shares in the stock market; 234 of them settled in the green zone, 118 in the red zone with losses, whereas the share price of 22 companies remained unchanged.
Pak Refinery remained a volume leader among the top-three trading companies with 40,299,656 shares at Rs.22.68 per share, followed by Cnergyico PK with 38,445,342 shares at Rs.4.31 per share, and Hum Network settled as number third from the top with 31,180,500 shares at Rs.6.72 per share.
Unilever Foods recorded a maximum appreciation of Rs.1,179.00 per share price, closing at Rs.23,400.00, whereas Pak Suzuki settled as the runner-up with an increase of Rs.30.46 rise in its per share price to Rs436.53.
Sapphire Tex experienced a maximum decline of Rs.88.49 per share, closing at Rs1,101.01, followed by Indus Motor CoXD with a decrease of Rs.56.63 to settle at Rs.1,022.58.
Record Bullish Trend at PSX
Market experts believe the recent continued bullish trend to the positive indicators and business environment in the country, including the recent announcement of the general election, positive response from the IMF, etc.
The IMF’s review mission is in Pakistan currently to complete the first review under the $3 billion loan programme, and if successful, the bank would release the second tranche of $710 million by the end of December 2023, which would help in grooming the business environment further in the country.
