Bulls take charge as PSX surges on positive investor sentiment

KARACHI: The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 turned around to bullish trend, gaining 1,202.03 points, a positive change of 0.87 percent, closing at 139,419.62 points against 138,217.58 points last trading day.

Analysts at Topline Securities Ltd. said that the rally was fuelled by positive investor sentiment and renewed market confidence, as the index moved upward ahead of the anticipated announcement of strong corporate results.

“This wave of optimism helped paint a bullish picture across the board, setting the tone for a potentially upbeat week ahead”, they added.

A total of 629 million shares were traded during the day as compared to 608.18 million shares the previous trading day, whereas the price of shares stood at Rs34.675 billion against Rs23.523 billion on the last trading day.

As many as 478 companies transacted their shares in the stock market, 268 of them recorded gains and 178 sustained losses, whereas the share price of 32 companies remained unchanged.

The three top trading companies were First Dawood Prop with 44.05 million shares at Rs7.64 per share, WorldCall Telecom with 26.41 million shares at Rs1.46 per share and PTCL with 24.90 million shares at Rs 23.96 per share.

Unilever Pakistan Foods Limited witnessed a maximum increase of Rs 2,279.22 per share price, closing at Rs 27,777.22, whereas the runner-up was Nestle Pakistan Limited with Rs 45.45 rise in its per share price to Rs 7,445.45.

PIA Holding Company Limited witnessed a maximum decrease of Rs3,101.53 per share closing at Rs 27,913.79 followed by Pakistan Services Limited with Rs117.42 decline in its share price to close at Rs1,097.22.