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Bears capture floor on ISE

RECORDER REPORT

ISLAMABAD: Bears captured the floor of the Islamabad Stock Exchange where equities moved in downward direction amid expansion in the volume.

ISE Network index was down by 50.75 points as the psychological barrier stayed between 6,464.48 and 6,413.73 points.

The trade volume was higher to 9,134,540 shares as compared to previous turnover of 8,664,500 shares.

Out of (152) active companies traded across the ready-board, (87) stocks closed in minus zone, (33) improved their worth, while (32) stocks reflected the general lull.

The PTCL shed 55 paisa during the trading of 7,156,500 shares. PTCL resumed trading at Rs 32.70 and was finally closed at Rs 32.15. ICI Pakistan showed a decrease of 60 paisa on a business of 911,000 shares as it started the day at Rs 18.25 and was finally closed at Rs 17.65.

PSO was down by Rs 3.20 during the trading of 323,800 shares as it opened at Rs 243.40 and was closed at Rs 240.20. FFC Fertilizer lost 65 paisa over 256,500 shares as it opened at Rs 15.05 and was closed at Rs 14.40. Engro Chemicals opened at Rs 88.20 and was finally closed at Rs 86 and Fauji Fertilizer shed 90 paisa over 6,500 shares.

Brokers said that market resumed trading on a depressed note as almost all the leading sector communication, fuel, energy and chemical remained in minus territory throughout the morning session. Selling pressure was observed in the second session with moderate volume in PTCL, ICI Pakistan, Hubco, PSO and FFC Jordan.

The sentiment of the market remained depressed throughout the second session and the market finally closed on a negative note.

Paramount Leasing shed 65 paisa, Asian Leasing was down by 40 paisa, NDLC dips 30 paisa, Askari Leasing lost 25 paisa, Dawood Leasing was down by 20 paisa and Ibrahim Leasing was down by 15 paisa.

Most of the stocks of the banking sector closed in minus zone as the Bank of Punjab lost Rs 2.50, MCB was down by Rs 1.35, Crescent Investment Bank showed a decrease of Rs 1.30, Picic lost 80 paisa, Union Bank shed 60 paisa and Askari Commercial Bank 35 paisa.

Pakistan Oilfields was down by Rs 10, Sitara Energy dips 70 paisa, DG Khan Electric lost Re 1, KESC lost 45 paisa and Sui Northern Gas was down by 55 paisa.