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ISE index gains 75.02 points

RECORDER REPORT

ISLAMABAD: Brisk trading in hot favourites expanded the volume of Islamabad Stock Exchange to 11.67 million shares where equities scored handsome gains amid the increase in index.

The ISE Network index surged by 75.02 points as the rate-based indicator of the bourse moved from 6,409.16 shares to 6,484.18 shares.

Trade volume amounted to 11,672,240 shares as compared with the previous turnover of 11,370,200 shares.

In total 177 stocks participated in changing hand activity across the board. Gainers outnumbered losers at a clear ratio of 96:44 while 37 stocks remained pegged to their previous levels.

Pakistan Telecommunication Company Limited surged by Rs 1.65 on a business of 9,985,500 shares as it opened at Rs 31.40 and was closed at Rs 33.05. Second heavyweight ICI Pakistan soared by 45 paisa during trading of 595,000 shares. It resumed trading at Rs 14.45 and closed at Rs 14.90.

Third volume leader PSO showed an increase of Rs 10 over 377,700 shares as it opened at Rs 253 and closed at Rs 263. FFC Jordan gained 40 paisa on a business of 125,000 shares. It started the day at Rs 13.45 and closed at Rs 13.85. Engro Chemicals opened at Rs 94.30 and closed at Rs 98. Engro gained Rs 3.70 over 45,000 shares. Fauji Fertilizer was up by Rs 2.70 over 8,000 shares.

Brokers said that the market commenced the week on a healthy note as buying spree in PTCL, PSO, ICI and Hubco encouraged the blank sellers as well as margin hunters to enter back in game.

The market remained in positive zone throughout the day and managed to close on a healthy note. Major activity was witnessed in Communication, Fuel and Energy sectors with expansion in overall volume. Fresh buying and participation of major players in blue-chips ultimately resulted in a broad-based activity with gains in PTCL and PSO. Both these core scrips gradually moved to upward direction with expansion in volume.

In Banking sector, Bank of Punjab was up by Rs 1.70, First Capital Security gained Rs 1.50, Union Bank gained 25 paisa and Muslim Commercial Bank showed an increase of 75 paisa, Askari Commercial Bank was up by 20 paisa.

The Fuel and Energy sector remained in plus territory as Pakistan Oilfields surged by Rs 7, Attock Refinery gained Rs 2.95, Sui Northern Gas Rs 2, Sui Southern Gas showed an increase of Rs 1.45, Sitara Energy gained 75 paisa, Southern Electric surged by 70 paisa, Ibrahim Energy soared by 50 paisa and KESC showed an increase of 25 paisa.

Among the top gainers, Lever Brothers surged by Rs 40 as it resumed trading at Rs 1,060 and closed at Rs 1,100 shares.

Dewan Salman and Dhan Fibres behaved divergently in the Synthetic and Rayon sector as the former was up by 65 paisa while the later shed 5 paisa in its value.

Textile Composite remained in minus column as Crescent Textile shed Rs 3.20, Aruj Garment lost 50 paisa, Nishat Mills was down by 35 paisa and Kohinoor Industries shed by 30 paisa in its value.