ISLAMABAD: Islamabad Stock Exchange (ISE-10) on Tuesday witnessed bearish trend as the index fell to 19.66 to close at 2566.70 as compared to trading of previous day.
Stock Analyst, Ismail Iqbal Pvt Ltd, Jeewan told APP that the local equity markets remained range-bound because the major positions by investors was off-loaded at upper level of index.
He said that the Engro Corporation and Dawood Hercules was under pressure because of problem the gas supply by Sui Northern Gas Pvt Limited (SNGPL).
Even both these scrips again passed through the lower circuit breaker.
He added that the major positions was off-loaded by foreign investors in Muslim Commercial Bank (MCB) and Pakistan Petroleum Limited (PPL).
Senior Stock Analyst, First National Equity Pvt Ltd, M.M Hassan said that due to bearish trend in the most regional markets, it caused negative sentiments in the stock markets.
He said that one positive was the foundation stone laying ceremony of Basha Dam, it would create the huge demand for cement.
This will boost up the production of cement in the country and the earning of the cement industry.
He added that more positive news for the local markets were the seasons of financial results.
Total shares traded were 73,600, which was down by 101,714 as compared to closing of previous day.
Out of 140 companies, the price of 40 was increased while the price of 96 decreased.
The price of top gainer Millat Tractors was increased by Rs.9.86 while the price of top loser Engro Corporation decreased by Rs.6.61.
Fatima Fertilizer, Askari Bank Limited (AKBL) and Bank of Punjab (BOP) remained volume leaders on Tuesday, with volume of 25,500, 20,000 and 10,000 shares respectively.
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