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ISE index sheds 20.20 points

Recorder Report

ISLAMABAD: The volume at Islamabad Stock Exchange contracted to seven million shares where bears strengthened their position amid dull sentiment.

Equities moved in a narrow band, as select stocks moved in upward direction while heavyweights showed marginal decrease with moderate volume, brokers said.

The overall turnover of trendsetter Pakistan Telecommunication Company Limited contracted as other star performers moved both ways.

ISE network index showed decrease of 20.20 points from 6,378.93 of Friday and 6,358.73 points.

Volume was lower to 7,634,520 shares as compared to previous turnover of 8,985,400 shares.

Of 146 active companies. 72 stocks landed in negative column, 49 improved their worth and 25 companies did not observe any change.

PTCL shed 5 paisa on a business of 6,580,500, from Rs 31.75 to Rs 31.70. ICI Pakistan was minus by 30 paisa from Rs 17.55 to Rs 17.25 trading of 422,000 shares. PSO started the day at Rs 241 and closed at Rs 238.75, showing Rs 2.25 fall on trading of 235,200 shares. FFC Jordan gained 15 paisa from Rs 14.25 to Rs 14.40 on trading at 63,000 shares. Engro Chemicals opened at Rs 86.20 and closed at Rs 87.35.

Brokers said that the market resumed trading on a dull note due to absence of leading players and genuine investors. Margin hunters and jobbers confined themselves to a few core scrips and avoided new positions.

Moderate buying orders were received from different counters in leading scrips like PTCL, ICI, PSO and FFC Jordan. The market slightly recovered in the second spell and finally closed in negative territory. Some investors squared their positions to book available profits.

Dewan Salman Fibres soared by Rs 2.85 while Dhan Fibres was up by 15 paisa.

Mixed trend was observed in fuel and energy sector. Pakistan Oilfields was up by Rs 5. D G Khan Electric showed an increase of 55 paisa. Kohinoor Energy shed 25 paisa. Mari Gas Co was down by 50 paisa. Sui Northern Gas shed 20 paisa and Sui Southern Gas was down by 15 paisa.

Telecard Ltd showed a loss of 25 paisa, PIA lost 10 paisa and PNSC shed 5 paisa.

Lever Brother surged by Rs 42 to become first among the gainers. It opened at Rs 908 and closed at Rs 950.