In a significant turnaround, the 100-index of the Pakistan Stock Exchange (PSX) experienced a bullish trend on Wednesday, marking a substantial gain of 1,692.64 points. This positive change, amounting to 2.86 percent, led to the index closing at 60,863.62 points, surpassing the previous day’s closing at 59,170.98 points.
Throughout the trading day, a total of 669,356,605 shares were traded, valued at Rs.16.115 billion. A comparison with the last trading day reveals a noteworthy shift, as the traded shares decreased to 670,859,618, with a total value of Rs.17.129 billion.
Among the 357 companies participating in the stock market, 274 witnessed gains, while 63 sustained losses. The share prices of 20 companies remained unchanged. K-Electric Ltd emerged as the top-trading company with 102,249,598 shares traded at Rs.4.89 per share, followed by Fauji Foods Ltd with 58,130,290 shares at Rs.11.25 per share, and PTCL with 55,426,000 shares at Rs.12.25 per share.
Pakistan Tobacco Company experienced a remarkable surge, witnessing an increase of Rs.56.00 per share, closing at Rs.1,100.00. Mari Petroleum Company secured the second position with a rise of Rs.43.55 per share, closing at Rs.363.90.
On the downside, Mehmood Textile Mills observed the maximum decrease of Rs.37.00 per share, closing at Rs.468.00, followed by Faisal Spinning Mills with a decline of Rs.29.25, closing at Rs.360.75.
This bullish momentum in the PSX not only reflects positive market sentiment but also presents potential opportunities for investors navigating the dynamic landscape of the stock market.
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