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ISE index up by 151.46 points

Recorder Report

ISLAMABAD: Following the participation of foreign fund managers and financial institutions on Friday, equities continued to move in positive direction on the Islamabad Stock Exchange (ISE) with bullish spree in communication, fuel and energy sectors.

Trend-setters showed handsome gains under the lead of PTCL, ICI Pakistan, Hubco and PSO where index took a big jump of 151.46 points.

Bears finally decided to leave the floor as the ISE Network index moved from 5,694.71 points to 5,864.17 points.

The overall volume moved from 24,043,920 to 20,714,440 shares.

In total 158 companies participated in changing hands activity across the board. Gainers outclassed losers at a clear ratio of 104:30, while 24 stocks did not observe any change by the end of the day.

The digital desperadoes and manipulators failed to create any panic and selling pressure in the market, brokers said.

The hot favourite PTCL surged by Rs 4.85 on a business of 18,691,500 shares. PTCL resumed trading at Rs 28.05 and finally closed at Rs 32.90. Second trend-setter ICI Pakistan opened at Rs 12.55 and finally closed at Rs 13.50. ICI was plus by 95 paisa over 995,000 shares. Third most wanted stock PSO showed an increase of Rs 13 during trading of 166,300 shares. PSO opened at Rs 232 and closed at Rs 245. FFC Jordan started the day at Rs 13.75 and closed at Rs 14.05. Engro Chemicals opened at Rs 123 and closed at Rs 124.95 and Fauji Fertilizer showed an increase of Rs 4.65 over 9,500 shares.

The market started the day on a healthy note with active participation of major players and weak holders in the first session. The margin hunters as well as blank sellers remained busy in trading of speculative scrips in both the sessions and market finally closed on an extraordinary positive note.

Investors took new positions in PSO, PTCL and other blue chips during the day. The major activity in blue chips helped the low priority stocks as well and market witnessed broad-based activity during the day, said Mohammad Saghir, Director of ISE.

Hubco opened at Rs 28 and went maximum up to Rs 28.50 and closed at the same rate.

Lever Brothers took a jump of Rs 27 to become first among the gainers as it opened at Rs 923 and was closed at Rs 950.

Among the major gainers, Knoll Pharmaceutical was plus by Rs 11, Telecard Ltd. gained Rs 9.50, Millat Tractors surged by Rs 9, BOC Pak Rs 6, 14th ICP Mutual Fund gained Rs 5.50, Pakistan Oilfields was up by Rs 3.50, Gadoon Textile was up by Rs 3.40, Bank of Punjab was plus by Rs 2.85, Sui Northern gas gained Rs 2.15, Kohat Cement soared by Rs 2.45, MCB Rs 2.