Pakistan Stock Exchange Gains 14.80 Points Amid Bullish Trend

Mon Nov 20 2023
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ISLAMABAD: The 100-index of the Pakistan Stock Exchange (PSX) on Monday gained 14.80 percent with a slight positive change of 0.03 percent to close at 57,077.96 points compared to 57,063.16 points on Friday. 

On Monday, 718,285,234 shares valued at Rs16.686 billion were transacted against 901,596,869 shares valued at Rs 23.428 billion on the last working day. 

Meanwhile, 377 companies traded their shares in the stock market; 202 of them witnessed gains, and 161 sustained losses, whereas the share price of 14 companies was traded without a change. 

K-Electric Ltd remained the volume leader among the top-three trading companies with 89,794,643 shares at Rs.3.55 per share, followed by WorldCall Telecom with 64,623,166 shares at Rs.1.62 per share, whereas Fauji Foods Ltd settled as number three from the top with 50,193,356 shares at Rs.9.34 per share. 

Rafhan Maize witnessed a maximum appreciation of Rs.721.59 per share price, closing at Rs.10.342.84, whereas Hoechst Pak Ltd settled as the runner-up with an increase of Rs.67.50 in its per share price to Rs967.50. 

Unilever Foods XD witnessed a maximum decline of Rs.499.85 per share, closing at Rs 22,500.15, followed by Nestle Pakistan with a decline of Rs.100.00 per share to close at Rs.8,500.00.

Bullish Trend at Pakistan Stock Exchange

During a couple of days, the Pakistan Stock Exchange witnessed a remarkable bullish trend, except the bearish trend last Friday (due to profit taking). On Thursday, the 100 Index crossed the 57,000 level for the first time in history. 

In addition, the last couple of days witnessed a continuous bullish trend and record highs. Market experts believe the recent bullish sentiments in the market were due to the agreement between Pakistan and the International Monetary Fund (IMF) to reach a staff-level agreement on the first review for the 9-month Stand-By Arrangement (SBA).


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