ISE-10 gains 33 points

Monday, 06 February 2012 20:45

ISLAMABAD: Islamabad Stock Exchange (ISE-10) here on Monday witnessed bullish trend as the index was up by 33.26 points to close at 2660.97 as compared to previous day's trading.

Stock Analyst, Ismail Iqbal Pvt Ltd, Jeewan told APP that the expectation of the decline in the interest rate in the next monetary policy caused positive sentiments in the local markets.

He said the beneficiaries of this announcement would be DG Khan Cement, Pakistan State Oil (PSO) and Engro corporation because these companies had a major share in term of leverages.

Consumer Price Index (CPI) has witnessed a consecutive decline trend and it will help the government to cut Interest Rate by 50 Basis points (bps) in the next monetary policy to be announced on February 13.

Total volume of shares traded was 204,604, which was up by 116,204 as compared to a day earlier's closing.

Out of 132 companies's shares traded, the price of 94 was increased while the price of 38 decreased.

The price of top gainer Mitchell's Fruit Farms was increased by Rs.5.05 while the price of top loser Unilever Pakistan was decreased by Rs.18.94.

Bank of Punjab (BOP), NIB Bank and D.G Khan Cement remained volume leaders on Monday, with volume of 94,510, 24,000 and 20,000 shares respectively.