Bulls in Islamabad!


The bulls in the capital aren’t quiet as devastating but ISE-10 gains 12 points anyway…
Islamabad Stock Exchange (ISE-10) here on Wednesday witnessed bullish trend as the index was up by 11.67 points when compared to the previous day’s trading. Talking to APP, Stock Analyst M.M Hassan said that the result announced by Fauji Fertilizer Corporation (FFC) led the bullish rally in the local stock market. The FFC has recommended Rs.5.00 per share or 50 per cent second interim cash divided for the half year ended June 30, he said, adding this is an addition to first interim dividend already paid at Rs.3.00 per share or 30 per cent. “This was total Rs.8.00 per share or 80 per cent cash dividend for half year ended on June 30, which was the positive and beyond the expectation of the market despite the various challenges was faced by the FFC”, he added. He said that the volume in the bourse had also witnessed an increase against the earlier’ day because the investors had taken major positions in the market owing to this positive development. Total volume of shares traded was 38,200, which was up by 27,200 as compared to a day earlier’s closing. Out of 101 companies’ shares traded, the price of 65 was increased while the price of 36 decreased. The price top gainer Millat Tractors was increased by Rs.6.76, while the price top loser Unilever Pakistan decreased by Rs.25.00. Silk Bank Limited, Soneri Bank and Bank of Punjab remained volume leaders on Wednesday, with volume of 6,000, 2,000 and 2,000 shares respectively.