Bullish trend dominated PSX throughout week

ISLAMABAD     –   The bullish trend dominated the Pakistan Stock Exchange (PSX) throughout the week ending on Friday, October 25, while its index collectively witnessed increase of 572.73 points since the beginning of the trade on Monday.

The KSE 100-index touched the figure of 33657.46 points on Friday after passing through mixed trends throughout the week that had closed at the index position of 33084.73 points on Monday, the beginning of the trade activity. Collectively, there had been increase of 1.73 percent increase in the KSE 100-index activity during the week under review.

According to details, the PSX on Monday noted bearish trend as KSE 100-index went down by 785.42 points (2.32 percent) to close at 33084.73 points. A total of 130,285,140 shares were traded with value of Rs4.956 billion. Out of 351 companies, share prices of 25 companies recorded increase, 313 companies registered decrease whereas 13 companies remained stable.

On Tuesday, the stock market bounced back and noted bullish trend as the index went up by 114.23 points (0.35 percent) to close at 33198.96 points. A total of 83,612,250 shares were traded valuing Rs3.188 billion.

Out of 344 companies, the share prices of 188 companies recorded increase,135 companies registered decrease whereas 21 companies remained stable. The market continued with bullish trend on Wednesday as KSE 100-index went up by 240.73 points (0.73 percent) to close at 33439.69 points. A total of 116,944,630 shares were traded whereas the value of shares traded during the day stood at Rs3.590 billion.

Out of 351 companies, the share prices of 205 companies recorded increase,132 companies registered decrease whereas 14 companies remained stable. The market continued to witness bullish trend on Thursday as KSE 100-index went up by 322.79 points (0.97 percent) to close at 33,762.48 points. A total of 121,325,410 shares were traded compared to the trade of 116,944,630 shares during the previous day, whereas the value of shares traded during the day stood at Rs 3.978 billion compared to Rs 3.590 billion during last trading day.

Out of 353 companies, the share prices of 214 companies recorded increase, 115 companies registered decrease whereas 24 companies remained stable. However, on Friday, the market against switched to bearish trend and the index went down by 105.02 points (0.31 percent) to close at 33,657.46 points. A total of 170,857,654 shares were traded with value of Rs 4,016 billion. Out of 357 companies, share prices of 146 companies recorded increase,180 companies registered decrease whereas 31 companies remained stable.

Collectively, throughout the week, there had been an increase of 572.73 (1.73 percent) as the index went up from 33084.73 points on the beginning of the trade to 33657.46 points at the close of week long trade activities.

Article source: https://nation.com.pk/27-Oct-2019/bullish-trend-dominated-psx-throughout-week