Islamabad Stock Exchange gains 42.87 points

ISLAMABAD: The Islamabad Stock Exchange (ISE-10) here on Tuesday witnessed bullish trend as the index gained 42.87 points to close at 2,520.23 as against a day earlier's trading.

Senior Equity Dealer, Ismail Iqbal Pvt Ltd, Zaheer Ahmed told APP that the decrease in the inflation and expected cut of 50 basic points in the monetary policy to be announced on October 8 caused positive sentiments in the local equity markets.

He said that due to this, major institutions buying led the bullish rally in the market in oil and fertilizer sectors.

According to the National Clearing Company of Pakistan (NCCPL), Foreign Investors Portfolio Investment (FIPI) has off-load the positions worth US$ 0.26 million while the Local Investors Portfolio Investment (LIPI) were net buyer in the local equity markets.

Stock Analyst, First National Equity Pvt Ltd, M.M Hassan said that the oversold positions of majority scrips in the local equity markets attracted the major investors to take positions.

He said that keep in the view of their payout of selected scrips, the majority punters was bullish in the local markets.

Total shares traded were 5,900, which was down by 64,105 as compared to previous day's trading.

Out of 110 companies, the price of 70 was increased while the price of 40 decreased.

The price of top gainer National Refinery was increased by Rs. 8.36 while the price of top loser National Foods decreased by Rs. 3.33.

National of Pakistan (NBP), Engro Corporation and OGDCL remained volume leaders on Tuesday, with volume of 3,000, 2,000 and 900 shares respectively.

Copyright APP (Associated Press of Pakistan), 2011