PSX stays bullish, gains 972 more points

KARACHI: The Pakistan Stock Exchange (PSX) maintained the bullish trend as the KSE-100 index gained 972 points, ARY News reported.

The 100-Index added 972.94 points, a positive change of 0.83 percent, closing at 117,974.03 points as compared to 117,001.09 points on the last trading day.

Analysts at Topline Securities said the market continued its upward momentum, fuelled by strong buying activity from local institutions.

They said “The rally was primarily driven by HUBC, MARI, ENGROH, SYS, and PPL, which together contributed 551 points to the index. On the other hand, FFC, EFERT, and POL exerted downward pressure, pulling the index down by 54 points”.

A total of 544.2 million shares were traded during the day as compared to 449.484 million shares the previous trading day, whereas the price of shares stood at Rs32.310 billion against Rs29.178 billion on the last trading day.

As many as 449 companies transacted their shares in the stock market, 221 of them recorded gains and 157 sustained losses, whereas the share price of 71 companies remained unchanged.

The three top trading companies were Pak International Bulk with 52.151 million shares at Rs11.05 per share, Pak Elektron with 36.133 million shares at Rs48.14 per share and WorldCall Telecom with 30.884 million shares at Rs1.40 per share.

Excide Pakistan Limited witnessed a maximum increase of Rs74.83 per share closing at Rs823.10 whereas runner-up was Macter International Limited with Rs36.71 rise in its share price to close at Rs403.77.

Unilever Pakistan Foods Limited witnessed a maximum decrease of Rs82.50 per share price, closing at Rs23,400, whereas the runner-up was Nestle Pakistan Limited with Rs64.84 decline in its per share price to Rs7,402.33.