ISLAMABAD: The Islamabad Stock Exchange (ISE-10) on Thursday witnessed a bearish trend as the index was down by 9.77 points to close 2697.21 as compared to the previous day's trading.
Stock Analyst, Ismail Iqbal Pvt Ltd, Jeewan told APP that the local stock market remained under the pressure consecutively due to political scenario emerged after the decision of the Supreme Court regarding disqualification of Prime Minister.
He said that the investors especially foreign investors were seen to have off-loaded the major positions in the market rather than taking new positions despite of the index came down.
"Besides this, the decline in oil price in the international markets and the decease in the price of cement due to its stocks available in excess also led the bearish rally in the bourse", he added.
He added that the other reason of reducing the price of cement was the forecasting of 15 per cent more rain in the coming monsoon season in the country by meteorological department because the excess stocks of cement and fertilizer could be damaged due to flood and rain.
Total volume of shares traded was 23,800, which was up by 23,200 as compared to a day earlier's closing.
Out of 107 companies' shares traded, the price of 32 was increased while the price of 75 decreased.
The price top gainer Unilever Pakistan was increased by Rs.67.43 while the price of top loser Mitchell Fruit Farma decreased by Rs.14.15.
NIB Bank, National Bank and Fauji Fertilizer Bin Qasim remained volume leaders on Thursday, with volume of 15,000, 3,000 and 2,100 shares respectively.
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