The Pakistan Stock Exchange (PSX) witnessed a notable turnaround on Thursday as the 100-index embarked on a bullish trend, marking a positive change in the financial landscape. Investors were greeted with encouraging gains, reflecting the resilience and dynamism of the market despite recent fluctuations.
Key Market Statistics
The 100-index surged by an impressive 1,015.82 points, representing a significant increase of 1.59%, closing at a robust 65,064.27 points, compared to 64,048.44 points recorded during the previous trading day. This upward trajectory underscored renewed investor confidence and optimism in the market’s potential.
A total of 315,247,601 shares, valued at Rs.10.487 billion, exchanged hands throughout the day, highlighting the heightened trading activity. This marked a notable increase compared to the previous day, with 252,751,968 shares valued at Rs.9.247 billion traded.
Company Performance
A total of 336 companies actively participated in the stock market, with 248 companies recording gains, while 72 sustained losses. Additionally, the share prices of 16 companies remained unchanged, reflecting a diverse array of market dynamics.
Among the top trading companies, WorldCall Telecom led the pack with 42,747,519 shares traded at Rs 1.35 per share, followed closely by Cnergyico PK with 36,111,224 shares traded at Rs 5.09 per share. Kohinoor Spinning also made a significant contribution, with 19,583,000 shares traded at Rs 4.79 per share.
Notable Performers
Mari Petroleum Company Limited emerged as the top gainer, witnessing a substantial increase of Rs 72.51 per share, closing at Rs 2,430.11. Nestle Pakistan Limited followed closely, with a rise of Rs 69.12 per share, reaching Rs 7,500.00.
However, Ismail Industries Limited experienced a decline, with a decrease of Rs 90.00 per share, closing at Rs 1,110.00. Philip Morris (Pakistan) Limited also recorded a decline, with a decrease of Rs 18.60 per share, closing at Rs 710.10.
The bullish trend observed in the PSX on 14th March 2024 reflects the resilience and strength of Pakistan’s financial markets. With encouraging gains and heightened trading activity, investors remain optimistic about the market’s future prospects. As companies continue to navigate through dynamic market conditions, investors are urged to stay informed and make informed decisions to capitalize on emerging opportunities.
Afsheen Gohar believes in the power of clear, straightforward writing. Her blog posts tackle everyday topics with relatable insights and easy-to-follow advice. With a conversational style, she makes complex subjects feel understandable. She’s dedicated to sharing knowledge and empowering readers to take action. Find her latest posts on trending in social.
