ISLAMABAD: The Islamabad Stock Exchange (ISE-10) witnessed bearish trend here on Friday as the index plunged by 79.34 point at 2,340.00 as compared to previous day's trading.
Stock Analyst and Member of Association for Investor's Awareness (AIA), Fahim Akhtar told APP that heavy sell off in the European and American markets along with crude oil and buying in gold caused bearish trend in the local stock markets.
He said that more negative pressure was witnessed in banking sectors but accumulation of shares by local institutions at lower level of index was indication of positive sentiments in the future.
Senior Equity Dealer, Ismail Iqbal Pvt Ltd, Zaheer Ahmed said that international markets' concerns and violence in commercial hub was main cause of negative sentiments in the local markets.
He said that keeping in the view of the best dividend yields of some scrips like Hubco, Nishat Chunyan, PPL were attractive at these levels of index.
"According to National Clearing Company of Pakistan Ltd (NCCPL), even today, Foreign Investors Portfolio Investments (FIPI) selling worth US$ 1.76 million was very depressing in the investors", he added.
In today's trading, total shares 27,575 were traded, which were up by 3803 as compared to previous day.
Out of 103 companies, the price of 19 was increased while the price of 83 decreased and zero company remained stable.
The price of top gainer Sanofi Aventis Pakistan was increased by Rs. 7.47 while the price of top loser Unilever Pakistan decreased by Rs. 79.40.
Lotte Pakistan PTA, DG Khan Cement and Allied Bank Limited were remained the volume leaders in today's trading with volume of 16,000, 10,000 and 725 respectively.
Copyright APP (Associated Press of Pakistan), 2011
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