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 ISLAMABAD: The Islamabad Stock Exchange (ISE-10) witnessed bearish trend on Thursday, as the index closed at 2419.88 after losing 40.42 points as compared to the previous day's trading.

Manager of First National Equity Pvt Ltd, M.M. Hassan told APP that foreign institutions remained net buyers but panic selling by local institutions caused the decline in local stock markets.

He said that with Qadirpur gas suspension for 2-3 weeks for routine maintenance would likely to exert pressure in fertilizer stocks during coming days.

Senior Equity Dealer, Ismail Iqbal Securities Pvt Ltd, Zaheer Ahmed said that scrips of oil and fertilizer sectors remained favourites for investors because of the positive earning of these counters.

"According to the National Clearing Company of Pakistan's data, foreign investors took positions in blue chips companies worth US $ 0.934 millions on Thursday", he added.

He said that buying of foreign investors showed the positive sentiments in the stock markets in future.

Total shares traded on Thursday were 38,600, which were down by 3200 as compared to a day earlier.

Out of 93 companies, the price of 53 was increased while the price of 40 decreased.

The price of top gainer Millat Tractors was increased by Rs27.20 while the price of the top loser Unilever Pakistan decreased by Rs119.44.

Lotte Pakistan PTA, Bank of Punjab and D.G Khan Cement remained volume leaders here on Thursday, with volume of 10,000, 15,000 and 10,000 shares respectively.

 

Copyright APP (Associated Press of Pakistan), 2011

 

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