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ISE index hits another record high

Recorder Report

Islamabad: Bullish spree in the fuel, energy and communication sectors elevated index of the Islamabad Stock Exchange to a record high where overall turnover shot up to 12 million shares on Friday.

ISE network index witnessed a big boom of 172.73 points as it moved from 5,098.65 points to 5,271.38 points.

The trade volume was higher to 12,039,500 shares as compared to the last turnover of 9,577,900 points.

The horizon of trade expanded from 76 companies to 168 active stocks. Gainers outclassed losers at a clear ratio of 107:33, while 28 stocks remained pegged to their overnight levels.

The market opened on a bullish note following buying in blue chips like PTCL, ICI Pakistan, PSO and Hubco. The sentiment remained positive throughout the day and market finally closed in plus territory, brokers said.

Major players as well as blank sellers took fresh positions in PTCL and other hot favorites.

The PTCL opened at Rs 25.15 and was closed at Rs 25.60. It showed an increase of 45 paisa during trading of 9,577,000 shares as compared to the previous turnover of 7,542,000 shares. Second heavyweight ICI Pakistan was up by 85 paisa on a business of 1,195,000 shares as compared to Thursday's volume of 1,247,000 shares. ICI resumed trading at Rs 11.35 and was finally closed at Rs 12.20. PSO opened at Rs 222.90 and was closed at Rs 223.10. It gained 20 paisa over 495,000 shares. FFC Jordan also managed to beg 20 paisa on a business of 65,500 shares. It opened at Rs 13.15 and was closed at Rs 13.35.

Engro Chemicals surged by Rs 2.15 on a business of 29,500 shares and Fauji Fertilizer showed an increase of Rs 1.60.

In Banking sector, JOV and Co. was plus by Rs 3.10, Muslim Commercial Bank surged by Rs 1.80, Bank of Punjab gained 85 paisa and Al-Mal Securities and Services soared by 50 paisa.

Dewan Salman increased by Rs 3.20 over 33,500 shares. It opened at Rs 29.80 and closed at Rs 33. Dhan Fibres was plus by Rs 1.75 in its value.

National Refinery gained Rs 2 as top gainer in the fuel and energy sector, Sui Southern Gas company soared by Rs 1.60. It was up by a rupee. Tri Star Power gained 55 paisa.

Among the major gainers BoC Pak surged by Rs 22, Millat Tractors Rs 6.50, Lever Brothers Rs 5 and Packages Limited was up by Rs 4.