ISLAMABAD: After losing over 300 points during the previous day, the 100-index of the Pakistan Stock Exchange (PSX) continued the bearish trend on Tuesday while losing 908.60 points with a negative change of 1.20 percent. At close the index settled at 74,666.66 points against 75,575.26 points last day.
On Tuesday, 414,479,234 shares valuing Rs 18.311 billion were entertained against the previous day’s shares of 441,261,756 worth Rs 18.364 billion.
In total, 451 companies traded their shares in the stock market, 99 of them recorded gains, 279 met losses, whereas the share price of 73 companies remained unchanged.
Fauji Cement remained the volume leader among the top-three trading companies with 36,618,571 shares at Rs 22.51 per share followed by K-Electric Limited with 35,198, 695 shares at Rs 4.87 per share whereas WorldCall Telecom settled with 21,707,630 shares at Rs 1.34 per share.
Sapphire Fibers Limited registered a maximum increase of Rs 31.51 per share price to close at Rs 1,438.94 whereas Philip Morris Pakistan Limited settled as the runner-up with an increase of Rs 10.39 per share price to Rs 600.00.
Mari Petroleum Company recorded a maximum decline of Rs 83.43 per share to close at Rs 2,672.60, followed by Rafhan Maize Products Company Limited with a fall of Rs 68.83 to close at Rs 7,926.64.
Bullish, Bearish Trend at Pakistan Stock Exchange
During the last six to seven months, the 100-index swung both ways, with a major bullish flow particularly in May 2024 witnessing a number of records on high, by getting about 60% in the last 8 months including the last one.
Earlier, the market achieved the historic 66000 mark in December 2023, followed by some bearish momentum. In March 2024, however, the market bounced back to surpass the 67,000 mark followed by the 70,000 mark in early April. In the last couple of weeks, the market first crossed the 72,000 slots, followed by the 73,000 benchmark at the beginning of May. The recent continued bullish flow took the market first to the 74,000 mark on 14th May, and then even crossed another historic high of 75000 benchmark on May 17.
