ISLAMABAD: After losing more than 3000 points during the last two consecutive sessions, the 100-index of the Pakistan Stock Exchange (PSX) turned bullish while gaining 161.61 points on Tuesday, with a positive change of 0.26 percent. At close, the index settled at 61,226.93 points compared to 61,065.32 points the day before.
On Tuesday, 435,549,576 shares valuing Rs 15.972 billion were transacted against 349,975,051 shares valuing Rs 12.745 billion on Monday.
In total, 355 companies entertained their shares in the stock market, 188 witnessed gains, and 139 sustained falls, whereas the share prices of 28 companies settled without a change.
Like the previous day, K-Electric Limited remained the major volume holder among the top three top-trading companies with 65,824,727 shares at Rs 4.15 per share, followed by WorldCall Telecom with 30,099,719 shares at Rs 1.23 per share, whereas Pak Refinery settled with 28,602,808 shares at Rs 25.63 per share.
Mari Petroleum Company Limited recorded a maximum appreciation of Rs 161.03 per share price to settle at Rs 2,308.04, whereas Ibrahim ZIL Limited settled as the runner-up with an increase of Rs 21.23 in its per share price to close at Rs 304.33.
Rafhan Maize Products Company Limited recorded a maximum decline of Rs 346.99 per share, closing at Rs 8,303.01, followed by Khairpur Sugar Mills Limited with a fall of Rs 32.29 to settle at Rs 398.25.
Bullish Trend Dominates PSX
Despite the last couple of months, the 100-index mostly enjoyed a bullish trend, where the market also witnessed a historic bullish trend by gaining about 60% in the last 6 months.
In the middle of December 2023, the 100-index observed a bearish trend due to profit-taking. However, in general, the market achieved more than 14000 points during the last two and a half months. In November 2023, the market appreciated by 8000 points, while during the last five months, the 100-index benchmark achieved the historical 24000 points.
Meanwhile, the 100-index crossed several consecutive all-time highs in the recent past. After having a number of records in November, 100-index crossed the historic 60000 benchmark. The market continued the same bullish sentiments in the first quarter of December, and till December 12, it crossed 5000 points to reach 66000 plus points.
However, from December 13, the market went bearish with a major fall on December 20 (over 2300 points) and on December 22 (over 1100 points), again followed by a bloodbath on December 26, 2023, while going down by over 2500 points. Later, the market went bullish to achieve over 2900 points, followed by another historic bullish trend on a single day (January 1) to get over 2200 points. Later, the market swung both ways to date.
