Islamabad stocks in a bear hug

ISLAMABAD: Islamabad Stock Exchange (ISE-10) witnessed
bearish trend here on Monday as the index suffered a fall of 7.37 points and closed at 2,332.63 compared to previous day's trading.

Stock Analyst and President, Association of Investors' Awareness
(AIA), M.M Hassan told news agency that massive buying by local institutions especially National Investment Trust (NIT) averted the local stock markets to take massive plunge.

He said that the oversold scrips at lower level of index and the best dividend yield of blue chips was main attraction for investors to take
positions.

Senior Equity Dealer, Ismail Iqbal Pvt Ltd, Zaheer Ahmed said that markets remained range-bound because of prevailing violence in commercial hub of the country (Karachi).

He said that Fertilizer and Oil sectors were the favorite for
long-term investment.

"According to National Clearing Company of Pakistan Limited (NCCPL),
even today, net selling by Foreign Investors Portfolio Investment (FIPI) was witnessed worth US $0.509 million", he added.

He further said that continous selling by foreign investors was to compensate the loss incurred in international markets.

Today, 34,670 shares were traded, up by 7095 points as compared to previous day's trading.

Out of 95 companies, the price of 56 scrips increased while the price of 39 decreased.

The price of top gainer Pakistan Oil-fields (POL) increased by Rs5.20 while the price of top loser Unilever Pakistan decreased by Rs21.36.

National Bank of Pakistan (NBP), Dewan Salman Fibre Limited (DSFL) and Attock Refinery Limited (ATRL) remained the volume leaders today with 24,800, 5,000 and 4,000 shares traded respectively. (APP)