ISE-10 witnesses bullish trend

ISLAMABAD: The Islamabad Stock Exchange (ISE-10) here on Thursday witnessed bullish trend, the index gained 6.37 to close 2,452.44 as against previous day's closing.

Senior Equity Dealer Ismail Iqbal Pvt Ltd Zaheer Ahmed told APP that the equity markets remained range-bound with thin volumes because of concerns by the investors for the devastating floods in the country especially in Sindh.

He said that the pressure was witnessed in the equity market at the closing time of the market due to profit taking in the Fertilizer and Oil sectors by the investors.

According to the National Clearing Company of Pakistan (NCCPL), Foreign Investors Portfolio Investment (FIPI) off-loaded the positions in the equity of markets worth US$ 2.59 million, while local institution were net buyers at lower level of the index.

Stock Analyst and Member, Association for Investors' Awareness, Faheem Akhtar said that the market seemed leading towards stability in long term but in the short term selling pressure appeared in selected counters.

He said that there were no such negative sentiments in the markets because at the dip the investors took positions and off-loaded at the strength.

In today's trading, total shares traded were 18,203, which was down by 16,116 as compared to previous day's trading.

Out of 118 companies, the price of 63 was increased while the price of 55 decreased.

Fatima Fertilizer, Pakistan Oilfields (POL) and Engro Corporation were remained volume leaders on Thursday, with the volume of 14,200, 2,000 and 2,000 shares respectively.

Copyright APP (Associated Press of Pakistan), 2011