ISLAMABAD: After getting over 1800 points during the last four consecutive sessions, the 100-Index of the Pakistan Stock Exchange (PSX) continued the bullish trend on Thursday while gaining 266.72 points further with a positive change of 0.36 per cent. At close the index settled at the historic 74,930.70 points against the last-day closing of 74,663.98.
On Thursday, 407,625,139 shares valuing Rs 16.978 billion were entertained against the previous day’s shares of 572,420,772 worth Rs25.947 billion.
In total, 377 companies traded their shares in the stock market, 161 registered gains, and 194 suffered losses, whereas the prices of 22 companies remained unchanged.
P.I.A.C remained the volume leader among the top-three trading companies with 34,846,148 shares at Rs26.20 per share, followed by Pak-Electric with 28,542,422 shares at Rs 26.47 per share whereas World Call Telecom settled at 24,078,585 shares at Rs 1.38 per share.
Sapphire Fibers Limited recorded a maximum appreciation of Rs 57.78 per share price to settle at Rs 1,549.95, while Mehmood Textile Mills Limited settled as the runner-up with an increase of Rs 23.11 per share to close at Rs 486.11.
Nestle Pakistan Limited registered a maximum fall of Rs 100.00 per share closing at Rs 7,280.00, followed by Hallmark Company Limited with a decrease of Rs 42.59 per share to close at Rs 525.30.
Bullish Trend at PSX
During the last six to seven months, the 100-index oscillated both ways, with a leading bullish run particularly in May, resulting in a number of records on high, by getting about 60% in the last 8 months including the last one.
The market achieved the historic 66000 mark in December, followed by some bearish trend. In March 2024, however, the market bounced back to cross 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 now went near to the new historic benchmark of 75000.
