ISLAMABAD: Islamabad Stock Exchange (ISE-10) here on Monday witnessed bearish trend as the index was down by 7.39 points to close at 2942.01 against the previous day's closing.
Talking to APP, Stock Analyst Zaheer Ahmed said that the cement sector caused the local stock market to remain in the range-bound.
He said that the circulating news of reduction of federal excise duty (FED) on cement caused the positive sentiments among the investors for the sector.
"Besides, decline in the price of coal in the international markets made the cement sector more attractive for investors for long-term investments", he added.
"Moreover, the foreign investment in the markets had also added the extra attraction for the jobbers to take position resulting an increase in the volume of shares in the stock markets", Ahmed said.
Total volume of shares traded was 235,628, which was up by 75,642 as compared to a day earlier's closing.
Out of 149 companies' shares traded, the price of 73 was increased while the price of 76 decreased.
The price top gainer was increased by Rs.352.10 while the price of top loser Indus Motors decreased by Rs.8.49.
Fauji Cement Company (FCCL), Lotte Pakistan PTA and D.G Khan Cement remained volume leaders on Monday, with volume of 50,000, 25,000 and 22,160 shares respectively.
Meanwhile, the rupee shed 5 paisa by closing at Rs.90.75 against US dollar as compared to the previous day's closing at Rs.90.70 against the greenback in the interbank.
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