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ISE index 187 points up

Recorder Report

ISLAMABAD: Buying spree in fuel, communication and chemical sectors elevated the index of Islamabad Stock Exchange where bulls demonstrated their presence amid expansion in volume.

The participation of financial institutions and foreign fund managers encouraged the small investors to enter into arena as most of the investment stocks recorded sharp gains on brisk trading by weak holders as well.

ISE Network index took a big jump of 187.28 points as the composite index moved from 6,063.30 to 6,250.58 points.

The trade volume amounted to 15,320,040 shares as compared to last turnover of 12,984.320 points.

Out of 184 active stocks traded during the day, 128 clearly led the scene, 34 stocks closed in minus territory while 22 remained glued to their overnight levels.

The market-driver PTCL gained 50 paisa on a business of 13,565,500 shares as it resumed trading at Rs 30.10 and closed at Rs 30.60. Second hot-favorite PSO surged by Rs 11.85 during trading of 458,000 shares. PSO started the day at Rs 233.15 and closed at Rs 245. ICI Pakistan was plus by 20 paisa during trading of 416,000 shares. ICI opened at Rs 12.40 and closed at Rs 12.60. FFC Jordan was up by five paisa on a business of 79,500 shares as it opened at Rs 14.40 and closed at Rs 14.45. Engro Chemicals gained Rs 4.15 over 1,000 shares and Fauji Fertilizer showed an increase of 65 paisa during trading of 6,500 shares.

The market resumed trading on a healthy note following considerable buying in PSO, PTCL and Hubco. Major players as well as weak holders took new positions in heavyweights and low priority stocks. The market continued to show positive signs throughout the day and market finally closed on an extraordinary bullish note, said Zahid Latif Khan of Zahid Securities.

In fuel and energy sector, National Refinery was plus by Rs 7.55, Pakistan Oilfields gained Rs 6.80 Attock Refinery soared by Rs 5 and Mari Gas showed an increase of Rs 3.80.

Banking sector remained in plus territory as Bank of Punjab surged by Rs 4.05, PICIC gained Rs 1.45, Crescent Investment Bank showed an increase of Rs 1.25 and MCB was plus by 90 paisa.