PSX Turns Bullish, Gains 157 Points to Settle at 75,114.47

Thu May 23 2024
icon-facebook icon-twitter icon-whatsapp

ISLAMABAD: After losing 250 points the previous day amid the correction process, the 100-Index of the Pakistan Stock Exchange (PSX) bounced back to a bullish trend on Thursday while gaining 157.80 points with a positive change of 0.21 percent. At close the market settled at 75,114.47 points against the previous day’s closing of 74,956.67 points.

On Thursday, 758,944,398 shares valuing Rs 16.708 billion were entertained against the previous day’s shares of 584,484,020 worth Rs 17.714 billion.

In total, 376 companies traded their shares in the stock market, 192 met gains, 156 suffered losses, whereas the share price of 28 companies remained unchanged.

K-Electric Limited remained the volume leader among the top-three trading companies with 191,624,790 shares at Rs 5.24 per share, followed by WorldCall Telecom with 94,786,291 shares at Rs 1.45 per share whereas Symmetry Group Limited settled with 47,718,249 shares at Rs 5.74 per share.

Unilever Pakistan Foods Limited recorded a maximum appreciation of Rs 84.44 per share price to close at Rs 18,500.00, whereas Pakistan Tobacco Company Limited settled as the runner-up with an increase of Rs 38.10 per share to settle at Rs 918.10.

Mehmood Textile Mills Limited registered a maximum decline of Rs 38.18 per share closing at Rs 470.92, followed by Hallmark Company Limited with a fall of Rs 28.33 per share to close at Rs 574.07.

Record Bullish Trend at PSX 

During the last six to seven months, the 100-index swung both ways, with a major bullish trend 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 2023, followed by some bearish run. In March 2024, however, the market bounced back to cross the 67000 mark followed by the 70000 mark in early April. In the last couple of weeks,, the market first crossed the 72000 slot, followed by the 73000 benchmark at the beginning of May. The recent continued bullish flow took the market first to 74000 mark on 14th May, and then even surpassed another historic high of 75000 benchmarks on May 17.

icon-facebook icon-twitter icon-whatsapp