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ISE index up 36.62 points

Recorder Report

ISLAMABAD: Mixed sentiment was observed on the Islamabad Stock Exchange where bulls remained in commanding position amid contraction in volume.

ISE Network index showed an increase of 36.62 points as the priced-based indicator moved from 5,758.54 to 5,795.16 points.

The trade volume was amounted to 10,329,200 shares as compared to 10,316,500 shares of last Friday.

In total 155 stocks participated in changing hands activity across the board. Gainers outnumbered losers at a clear ratio of 99:31 while 25 stocks did not observe any change by the end of the second session.

The market was led by usual trio of PTCL, ICI Pakistan and FFC Jordan as evident from their overall turnover.

Hot favourite PTCL opened at Rs 29.35 and was sold at Rs 29.75. Telecom blue chip gained 40 paisa on a business of 9,172,500 shares. Second volume leader ICI Pakistan remained glued to its previous levels during trading of 511,000 shares. ICI opened at Rs 13.40 and was finally closed at Rs 13.40. Third heavyweight FFC Jordan was marginally up by 10 paisa on a business of 55,000 shares. FFC Fertilizer opened at Rs 13.15 and was closed at Rs 13.25. Engro Chemicals shed Rs 3.60 over 18,000 shares as it resumed trading at Rs 123.25 and was closed at Rs 119.65. Fauji Fertilizer soared by 75 paisa during trading of 7,000 shares.

Zahid Latif Khan of Zahid Securities said that market resumed trading on a bullish note following participation of major players as well as weak holders in the first session. However, Profit taking in blue chips pushed the ISE index in downward direction and a number of investors squared their positions. The market managed to remain in plus territory and finally closed on plus note.

The market moved in a tight band where certain scrips gained strength while others shed values across the board. The spot position of PSO contracted its volume to 1,000 shares. PSO opened at Rs 242 and was finally closed at Rs 244 by the end of second session, he added.

The Fuel, Energy and Communications sectors showed mixed trend with moderate volume in both the sessions.

In banking sector JOV and Co. was minus by Rs 7.95, Security Investment Bank shed Rs 1.30 and Atlas Inv. Bank was down by a rupee, while First Capital Security gained Rs 1.50, Al-Mal Securities and Services soared by Rs 1.25 and MCB gained half a rupee.