PSX Pakistan Stock Exchange functions normally in challenging circumstances

Pakistan Stock Exchange (PSX) Report: Bearish Trend Persists on January 10, 2024

On January 10, 2024, the Pakistan Stock Exchange (PSX) witnessed a continuation of the bearish trend as the 100-index lost 250.73 points, reflecting a negative change of 0.39 percent. The market closed at 63,919.85 points, down from the previous trading day’s closing of 64,170.58 points.

During the day, a substantial volume of trading activity took place, with a total of 636,168,115 shares changing hands, valued at Rs.17.980 billion. This marked a significant increase compared to the last trading day, which saw 448,990,545 shares traded, valued at Rs.12.281 billion.

In the stock market, 361 companies participated in transactions, with 155 of them recording gains, 183 sustaining losses, and the share prices of 23 remaining unchanged.

The top three companies in terms of trading volume were K-Electric, transacting 151,248,373 shares at Rs.5.72 per share, followed by Hascol Petrol, with 67,980,000 shares at Rs.8.53 per share, and WorldCall Telecom, trading 42,068,813 shares at Rs.1.43 per share.

Notable changes in share prices were observed, with Pakistan Tobacco Company Limited experiencing the highest increase of Rs.79.00 per share, closing at Rs.1,141.00. Pak Suzuki Motor Company secured the second position with a rise of Rs.58.32 per share, closing at Rs.835.88.

Conversely, Rafhan Maize Products Company faced the most significant decrease, with a decline of Rs.448.00 per share, closing at Rs.9,550.00. Hoechst Pakistan Limited followed with a decrease of Rs.40.80 per share, closing at Rs.1,300.00.

Investors and market observers closely monitor these developments, gaining insights into the dynamic nature of the PSX and its impact on various sectors within the market.

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