ISLAMABAD: After accumulating over 1000 points during the last two sessions, the 100-Index of the Pakistan Stock Exchange (PSX) continued the bullish run on Tuesday while gaining 732.08 points with a positive change of 0.9p percent. At close the index settled at 74,531.19 points against the last-day closing of 73,799.11 points. On Tuesday the index also managed to cross the 74,000 benchmark for the first time in history.
On Tuesday, 574,182,210 shares valuing Rs 23.425 billion were entertained against the last day shares of 721,597,885 valuing Rs 25.649 billion.
In total, 387 companies traded their shares in the stock market, 189 registered gains, 178 met a fall whereas the prices of 20 companies remained unchanged.
Cnergyico PK remained the volume leader among the top-three trading companies with 35,483,501 shares at Rs 4.63 per share followed by WorldCall Telecom with 29,894,985 shares at Rs 1.44 per share whereas K-Electric settled with 28,167,436 shares at Rs 4.64 per share.
Ismail Industries Limited registered a maximum appreciation of Rs 96.28 per share price to settle at Rs 1,385.57, whereas Mari Petroleum Company Limited settled as the runner-up with an increase of Rs 73.62 per share to close at Rs 2792.28.
Nestle Pakistan Limited recorded a maximum fall of Rs 94.42 per share to close at Rs 7,306.58, followed by Rafhan Maize Products Limited with a decline of Rs 59.43 per share to close at Rs 7962.70.
Bullish Trend at PSX
During the last six to seven months, the 100-index oscillated both ways, with a leading bullish run resulting in a number of records on high, by getting about 60% in the last 8 months including the last one.
After getting over 800 points in November 2023, the market achieved the historic 66000 mark for the first time in the first quarter of December 2023.
Later, from December 13, 2023, the index turned bearish while witnessing a significant decline, first on 20th December (over 2300 points) and then on December 22nd (over 1100 points), again followed by a bloodbath on 26th December 2023, while losing more than 2500 points. Later the market continued the bearish move by over 2900 points but then followed by another historic bullish run on a single day (1st January) to get over 2200 points. During the last three months, the market kept its bullish flow till it surpassed the 67,000 mark on 28th March and the 70,000 mark in early April. In the last couple of weeks, the market first crossed the 71,000 barrier, then the 72000 slot, followed by the 73000 benchmark at the beginning of May and now even crossed the 74,000 new historic benchmark on May 14.
