ISLAMABAD: Despite political unrest and the continued depreciation of the Pakistan Rupee against International currencies, the Pakistan Stock Exchange (PSX) still managed to have something optimistic while closing with a Bullish Trend on Wednesday.
On Wednesday, the 100-index of the PSX witnessed a bullish trend, gaining 29.89 points, with a positive change of 0.08 percent, and closed at 39,717.15 compared to 39,687.26 points on the last trading day.
On Wednesday, 86,723,163 shares were transacted during the day as compared to 83,255,062 shares on Tuesday, whereas the price of shares stood at Rs 2.435 billion against Rs 2.186 billion on the last trading day.
Bullish Trend at Pakistan Stock Exchange
Experts believe that the upward trend in the stock might be due to the possible visit and meeting of the finance minister with the official of IMF in the US. However, recent political unrest and the Punjab election issue negatively affected trading.
As many as 354 companies traded their shares in the stock market; 175 of them recorded gains and 147 sustained losses, while the share price of 32 companies remained unchanged.
The three top-trading companies were Silk Bank Ltd. with 11,002,000 shares at Rs 1.03 per share, WorldCall Telecom with 5,743,963 shares at Rs1.17 per share, and Telecard Limited with 5,347,500 shares at Rs 7.91 per share.
Khyber Textile witnessed a maximum appreciation of Rs 37.02 per share price, closing at Rs 530.72, while the runner-up was Premium Tex. with a rise of Rs 33.51 in its per share price to Rs 480.31.
Bata (Pak) witnessed a maximum decline of Rs 148.50 per share, closing at Rs 1835.00, followed by Philip Morris Pak. with a Rs 26.99 decrease to close at Rs 344.02.
