The Pakistan Stock Exchange (PSX) maintained its bullish momentum on Thursday, 22nd August 2024, with the 100-Index surging by 532.56 points. This marks a 0.68% increase, bringing the index to a closing level of 78,793.41 points, up from 78,260.86 points on the last working day.
Trading Volume and Market Activity
The trading volume saw a significant boost with a total of 804,261,249 shares being exchanged, a substantial rise compared to the 552,564,507 shares traded on the previous day. The total value of shares traded also increased, reaching Rs 16.975 billion, up from Rs 14.590 billion in the previous session.
Market Performance
A total of 473 companies participated in the trading session, with 261 companies recording gains, 138 sustaining losses, and 74 remaining unchanged. The positive market sentiment was evident as the majority of companies experienced upward trends in their share prices.
Top Trading Companies
The top three trading companies in terms of volume were:
- WorldCall Telecom: 140,914,417 shares traded at Rs 1.31 per share.
- Kohinoor Spinning: 91,356,461 shares traded at Rs 11.99 per share.
- Power Cement: 51,625,456 shares traded at Rs 6.03 per share.
Major Gainers and Losers
- Hoechst Pakistan Limited led the market with the highest increase in its share price, gaining Rs 97.89 to close at Rs 1,724.00.
- Services Industries Limited followed with a Rs 92.02 rise, closing at Rs 1,067.02 per share.
On the downside:
- Sapphire Textile Mills Limited witnessed the largest decrease in its share price, dropping by Rs 35.01 to close at Rs 1,264.99.
- Unilever Pakistan Food Limited also saw a decline of Rs 19.46, ending the day at Rs 17,800.00 per share.
The Pakistan Stock Exchange continues to demonstrate resilience and positive growth, with the 100-Index reflecting strong investor confidence. The increased trading volumes and the substantial gains recorded by many companies indicate a healthy market environment. As the PSX continues its upward trajectory, investors remain optimistic about future performance, with key sectors driving the bullish trend.
For those monitoring the market, the current conditions suggest continued opportunities for growth and investment, particularly in the top-performing sectors and companies that are driving the market forward.
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