PSX Pakistan Stock Exchange functions normally in challenging circumstances

PSX Report: Bullish Trend Continues with Significant Gains on February 7, 2024

The Pakistan Stock Exchange (PSX) witnessed a bullish trend on Wednesday, with the 100-index gaining 344.85 points, marking a positive change of 0.54 per cent. The market closed at 64,143.87 points, a notable increase from the previous day’s closing at 63,799.02 points.

Trading activity remained robust, with a total of 327,591,633 shares valued at Rs 14.308 billion changing hands during the day. While the share volume slightly decreased compared to the last trading day, the overall value of shares traded saw a decline from Rs. 15.195 billion.

A total of 356 companies actively participated in the stock market, where 203 recorded gains, 125 sustained losses, and the share prices of 28 remained unchanged.

The top-trading companies included K-Electric Limited, leading the charts with 44,379,925 shares traded at Rs.4.86 per share. Following closely were Oil and Gas Development, with 24,951,384 shares at Rs.150.67 per share, and Pak Electron, transacting 21,266,442 shares at Rs.23.88 per share.

Hoechst Pakistan Limited experienced the highest increase in share price, gaining Rs.76.34 per share, closing at Rs.1,400.00. Pakistan Services Limited secured the second position with a significant rise of Rs.41.00 per share, closing at Rs.920.00.

On the downside, Premium Textile Mills Limited witnessed the most substantial decrease, with a loss of Rs.19.00 per share, closing at Rs.361.00. Ismail Industries Limited followed with a decline of Rs.13.48 per share, closing at Rs.1,261.52.

Investors and market analysts are closely monitoring these developments as the bullish trend in the PSX continues, reflecting the resilience and positive sentiment in the Pakistani stock market.

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