ISLAMABAD: Islamabad Stock Exchange (ISE-10) here on Monday witnessed bullish trend as the index was up by 19.80 points to close at 2857.33 as compared to previous day's trading.

Stock Analyst, Ismail Iqbal Pvt Ltd, Jeewan told APP that the announcement of Rs.3 cash dividend by Pakistan State Oil (PSO) caused the positive sentiment in the local markets.

He said that the market was not expecting the cash dividend from PSO but its announcement of cash dividend surprised the investors and led the market to positive zone.

Besides, the investors are expecting Rs.3 cash dividend and Rs.6.10 earning per share (EPS) for first quarter of the current year from MCB bank and its corporate results is to be announced on Tuesday (Tomorrow).

"The investors are the positive about the economic policies of the current government and hoping of an increase in the allocation of Public Sector Development Programme (PSDP) of Rs.50 billion to Rs.350 billion in the coming budget against Rs.300 billion in the last year", he added.

He said that the government was expected to reduce federal excise duty on cement sector from Rs.500 per ton and ultimately would benefits the retail customers.

Total volume of shares traded was 58,060, which was up by 7,843 as compared to a day earlier's closing.

Out of 133 companies' shares traded, the price of 82 was increased while the price of 51 decreased.

The price of top gainer Unilever Pakistan was increased by Rs.139.99.

Byco Petroleum, Bank of Punjab (BOP) and Lafarage Pakistan Cement remained volume leaders on Monday, with volume of 25,000, 12,000 and 10,000 shares respectively.

Meanwhile, the rupee remained stable by closing at Rs.90.70 against US dollar as compared to previous day's closing at Rs.90.70 against the greenback in the interbank.