PSX Closes Above 83,000 Points for The First Time After Gaining Over 810 Points

The 100-Index of the Pakistan Stock Exchange (PSX) continued its bullish trend on Friday, gaining 810.19 points to close at 83,531.96 points, recording its highest-ever closing.  A total of 381,529,555 shares were traded during the day as compared to 319,879,266 shares the previous trading day, whereas the price of shares stood at Rs. 20.523 billion against Rs. 16.414 billion on the last trading day.   In a short note, brokerage firm Topline Securities attributed the bullish trend to a decline in yields in secondary market on government bills (T-Bill and PIB) and investor interest in the E&P sector following dispatch of PPL detailed financials to the exchange where key takeaway was that cash collection ratio of the company has improved to 81 percent in FY24 as compared to 53 percent in FY23 due to upward revision in gas prices.  As many as 444 companies transacted their shares in the stock market, 201 of them recorded gains and 167 sustained losses, whereas the share price of 76 companies remained unchanged.  The three top trading companies were Pace (Pak) Limited with 59,298,044 shares at Rs. 6.29 per share, Pak Petroluem with 21,636,537 shares at Rs 118.60 per share and Kohinoor Spinning with 19,496,228 shares at Rs. 8.12 per share.  Hallmark Company Limited witnessed a maximum increase of Rs. 91.85 per share price, closing at Rs. 1,175.34, whereas the runner-up was Sapphire Fibres Limited with Rs. 79.00 rise in its per share price to Rs. 1,349.00.  Unilever Pakistan Foods Limited witnessed a maximum decrease of Rs. 87.87 per share closing at Rs 17,412.13  followed by ZIL Limited with Rs. 16.80 decline to close at Rs. 218.34.