PSX Witnesses Bullish Trend, Gains 228 Points
The Pakistan Stock Exchange (PSX) showcased a bullish trend on Thursday, marking a notable gain. The 100-Index surged by 228.56 points, which translates to a 0.29 percent increase, eventually closing at 78,105.98 points compared to the previous working day’s closure at 77,877.42 points.
During the trading session, the stock market saw a significant volume of shares changing hands. Although there was a slight dip in the total shares traded—moving from 604,144,238 shares the day before to 591,065,051 shares—there was a noticeable increase in the value of shares traded for the day, reaching Rs 20.102 billion up from Rs 19.981 billion in the previous session.
A closer look at the day’s activities reveals that 442 companies participated in trading. Out of these, 227 companies saw their share prices increase, demonstrating a positive market trend. On the other hand, 162 companies experienced a decline in share prices, while the value of 53 companies remained unchanged, showcasing the dynamic nature of the market.
Among the most active stocks were Kohinoor Spinning, leading the charge with 91,017,452 shares traded at Rs 9.32 per share. It was closely followed by Yousuf Weaving with 65,313,406 shares at Rs 6.49 per share, and WorldCall Telecom with 60,620,909 shares trading at Rs 1.23 each, highlighting the investors’ interest in these companies.
The day also observed significant shifts in stock valuations. Hallmark Company Limited stood out with the highest increase in share price, which rose by Rs 48.97 to close at Rs 538.65. Pakistan Engineering Company Limited was not far behind, with its share price jumping by Rs 33.87 to end the day at Rs 699.11, reflecting bullish investor sentiment towards these enterprises.
Conversely, some companies faced downturns. PIA Holding Company Limited encountered the most significant drop, with its shares falling by Rs 84.87 to conclude at Rs 883.73. Nestle Pakistan Limited also witnessed a decline, with a decrease of Rs 47.50 in its share price to finish at Rs 6,800.00, indicating challenges faced by these entities in the market.
In summary, the PSX witnessed a day marked by optimistic trading patterns, with a majority of the companies enjoying gains. This positive momentum not only reflects the investor confidence but also the dynamic and fluctuating nature of the stock market. As the PSX continues to be a barometer for the financial health of the country, such bullish trends are welcomed by investors aiming for growth in their portfolios.
