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PSX Update 15th January 2024: Market Faces Bearish Trend, Shedding 368.26 Points

The Pakistan Stock Exchange (PSX) experienced a bearish trend on Monday, with the 100-index losing 368.26 points, marking a negative change of 0.57 percent. The market closed at 64,269.38 points, down from the previous trading day’s 64,637.64 points. This article delves into the key highlights of the day’s trading, including total shares traded, company performances, and notable stock movements.

Market Overview:

A total of 382,012,304 shares, valued at Rs.14.076 billion, were traded during the day, showing a decline from the last trading day’s 643,307,931 shares valued at Rs.20.021 billion. The shift in trading volumes indicates a significant change in market activity.

Company Performance:

Among the 363 companies that transacted their shares, 96 recorded gains, while 249 sustained losses. The share prices of 18 companies remained unchanged, reflecting the diverse performance of stocks in the market.

Top-Trading Companies:

The three top-trading companies on this bearish day were K-Electric, leading with 55,031,681 shares at Rs.5.85 per share, followed by Pak Int. Bulk with 37,652,000 shares at Rs.7.09 per share and WorldCall Telecom with 25,000,275 shares at Rs.1.38 per share. These companies played a significant role in shaping the day’s trading landscape.

Notable Stock Movements:

Philip Morris (Pakistan) Limited witnessed the maximum increase in share price, gaining Rs.44.34 and closing at Rs.635.59. Pakistan Hotels Developers Limited followed closely, with a rise of Rs.33.94 in its per-share price, closing at Rs.508.94.

On the other end, Nestle Pakistan Limited faced the maximum decrease, losing Rs.200.00 per share and closing at Rs.8,000.00. Rafhan Maize Products Company Limited also experienced a decline, with a Rs.150.00 decrease in its per-share price, closing at Rs.9,400.00.

The bearish trend in the PSX 100-Index reflects the dynamic nature of the stock market, with fluctuations in share prices and trading volumes. Investors and market enthusiasts will closely monitor these trends, analyzing the performances of individual companies for informed decision-making in the ever-evolving landscape of the Pakistan Stock Exchange.

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