Bulls Remain in Control as PSX Gains Over 1,600 Points
Rafhan Maize Sees Biggest Drop in Share Price, Philip Morris Follows
KARACHI: The 100-Index of the Pakistan Stock Exchange (PSX) continued with bullish trend on Tuesday, gaining 1,632.41 points, a positive change of 1.47 percent, closing at 113,010.38 points as compared to 111,377.97 points on the last trading day.
In a note Brokerage House Topline Securities attributed the positive trend to fading selling pressure from local institutions, as indicated by NCCPL data, which allowed the market to sustain its gains. Additionally, better-than-expected corporate earnings bolstered investor confidence, driving fresh buying across key sectors, it added.
A total of 486,935,003 shares were traded during the day as compared to 415,160,931 shares the previous trading day, whereas the price of shares stood at Rs. 30.381 billion against Rs. 23.947 billion on the last trading day.
As many as 447 companies transacted their shares in the stock market, 264 of them recorded gains and 117 sustained losses, whereas the share price of 66 companies remained unchanged.
The three top trading companies were Bank of Punjab with 59,148,179 shares at Rs. 10.83 per share, WorldCall Telecom with 30,022,192 shares at Rs. 1.56 per share and Citi Pharma Limited with 21,953,013 shares at Rs. 106.56 per share.
Read More: PSX Drops 900+ Points as KSE-100 Index Sees Significant Decline
Unilever Pakistan Foods Limited witnessed a maximum increase of Rs. 183.14 per share closing at Rs. 23,415.42 whereas runner-up was Sapphire Textile Mills Limited with Rs. 34.32 rise in its share price to close at Rs. 1,200.00.
Rafhan Maize Products Company Limited witnessed a maximum decrease of Rs. 124.95 per share price, closing at Rs. 9,365.05, whereas the runner-up was Philip Morris (Pakistan) Limited with Rs. 20.87 decline in its per share price to Rs. 661.61.
