Islamabad Stock Exchange index-10 sheds 3.66 points

ISLAMABAD: Islamabad Stock Exchange (ISE-10) on Thursday witnessed bearish trend as the index fell to 3.66 points to close at 2,525.11 as compared to previous day's trading.ISE-10

Senior Equity Dealer of Ismail Iqbal Pvt ltd, Zaheer Ahmed told APP that the market remained at range-bound because the investors preferred to wait till decision of All Parties Conference (APC) to be held on Thursday at Prime Minister House Islamabad.

He said that the investors took positions in the scrips of fertilizer sectors because of the increase sale of fertilizer products.

He said that according to data of National Clearing Company of Pakistan (NCCPL), even on Thursday the net seller in the local markets was Foreign Investors' Portfolio Investment (FIPI) worth US $ 3.40 million.

Stock Analyst of Association for Investor's Awareness, Faheem Akhtar said that the increasing US dollar parity with rupee was the main cause of growing concerns among the investors in the local markets.

He said that the last session (on Wednesday) selling of $3 million by FIPI along with local investors by preferring exit was very concerning for the investors and even today (Thursday), FIPI also off-loaded the major positions of same amount as yesterday (Wednesday) in the local markets.

Total shares traded were 342,023, which was up by 155,870 as against the trading of a day earlier.

Out of 116 companies, the price of 58 was decreased while the price of 57 decreased.

The price of top gainer Siemens Engineering was increased by Rs30.93 while the price of top loser Unilever Pakistan decreased by Rs48.06.

Bank of Pakistan (BoP), D.G Khan Cement and PTCL were remained volume leader on Thursday, with volume of 100,000, 60,500 and 50,000 shares respectively.

Copyright APP (Associated Press of Pakistan), 2011