ISLAMABAD: After witnessing a continuous bullish run for the last seven consecutive sessions, getting over 2400 points and crossing the 75,000 historic benchmark, the 100-Index of the Pakistan Stock Exchange (PSX) turned slightly bearish amid correction process to lose 258.34 points on Monday.
At close the index settled at 75,084.00 points against the previous day’s closing of 75,342.35 points and remained still above the historic 75000 benchmark.
On the first day of the week, 375,359,048 shares valuing Rs 16.301 billion were entertained against the previous day’s shares of 496,699,517, valuing Rs 17.631 billion.
In total, 380 companies traded their shares in the stock market, among which 137 registered gains and 223 met losses, whereas the share price of 20 companies remained unchanged.
Hum Network, remained the volume leader among the top-three trading companies with 30,918,735 shares at Rs10.90 per share followed by K-Electric Limited with 18,317,678 shares at Rs 6.67 per share whereas Dewan Motors settled with 17,860,403 shares at Rs 39.73 per share.
Meanwhile, Ismail Industries Limited observed a maximum appreciation of Rs 69.93 per share price to settle at Rs 1,618.85, whereas Hallmark Company Limited closed as the runner-up with an increase of Rs 41.33 to close at Rs 593.44.
Similarly, Hoechst Pakistan Limited registered a maximum decline of Rs 97.78 per share to close at Rs 1,429.19, followed by Khyber Textile Mills Limited with a fall of Rs 34.55 per share to close at Rs 426.18.
Record Bullish Trend at PSX
During the last six to seven months, the 100-index oscillated both ways, with a major bullish run particularly in May 2024 resulting in 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, 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 74000 mark on 14th May, and on Friday it even surpassed another historic high of 75000 benchmark.
