PSX Sustains Bullish Momentum, up 409 Points to Record Highest-Ever Closing

The 100-Index of the Pakistan Stock Exchange (PSX) continued its bullish trend on Tuesday, gaining 409.06 points to close at 86,466.58 points, its highest-ever closing. Brokerage house Topline Securities said the positive movement was driven by institutional buying and better-than-expected corporate earnings.  A total of 722,209,194 shares were traded during the day as compared to 474,949,535 shares the previous trading day, whereas the price of shares stood at Rs. 25.024 billion against Rs. 19.659   billion on the last trading day.   As many as 451 companies transacted their shares in the stock market, 231 of them recorded gains and 149 sustained losses, whereas the share price of 71 companies remained unchanged.   The three top trading companies were K-Electric Limited with 224,204,258 shares at Rs. 4.23 per share, WorldCall Telecom with 30,203,770 shares at Rs. 1.25 per share and Fauji Foods Limited with 26,100,952 shares at Rs. 9.11 per share. Unilever Pakistan Foods Limited witnessed a maximum increase of Rs. 426.19 per share price, closing at Rs. 18,166.83, whereas the runner-up was Siemens Pakistan Engineering with Rs. 84.15 rise in its per share price to Rs. 925.66.   Pakistan Tobacco Company Limited witnessed a maximum decrease of Rs. 71.69 per share closing at Rs. 1,088.11 followed by Rafhan Maize Products Company Limited with Rs. 71.20 decline to close at Rs. 7,361.88.