ISE-10 sheds 26 points
ISLAMABAD: Islamabad Stock Exchange (ISE-10) on Wednesday witnessed bearish as the index fell to 26.32 points to close at 2450.85 as against 2477.17.
Stock Analyst, Ismail Iqbal Pvt Ltd, Sadiq told APP that the foreign selling led the bearish rally in the local market.
He said that there was not any negative news in the markets and this was results season and the corporate results were the best than the expectation of the markets.
"As Fauji Fertilizer Bin Qasim, (FFBL) posted robust Nine Month 2011 earning per share (EPS) of Rs7.68, which was up by 144 per cent as compared to the same period of last year and higher than the market expectations," he added.
"Moreover, the result is also accompanied by third interim cash dividend of Rs.3 per share", he said.
Senior Analyst, First National Equity Pvt Ltd, M.M Hassan said that with results season turning to almost an end market seemed to be empty from any interest of investors.
He said that negative sentiments existed amongst investors due to out flow of foreigner investment.
Total shares traded were 83,462, which was up by 41,362 as compared to the trading of previous day.
Out of 112 companies, the price of 24 was increased while the price of 88 decreased.
The price of top gainer Saphire Fibres was increased by Rs.5.00 while the price of top loser decreased by Rs.55.40.
Fatima Fertilizer, Lotte Pakistan PTA and Kot Addu Power remained volume leaders on Wednesday, with volume of 61,400, 12,000 and 9,500 shares respectively.
Copyright APP (Associated Press of Pakistan), 2011
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