Islamabad Stock Exchange (ISE-10) here on Thursday witnessed bearish trend as the index was down by 4.07 points to close 2937.13 as compared to the previous day’s trading.
Stock Analyst, Zaheer Ahmed told APP that the result announced by Pakistan State Oil (PSO) and Oil & Gas Development Corporation(OGDC) led the positive activity in the local stock market.
The investors were seemed very positive about the result of PSO because it has announced cash dividend of Rs.2.5 per share or 25 per cent, despite its earning per share (EPS) has decreased from Rs.86.17 in July-Jun 2011 to 52.80 in the same period last year, he added.
The turnover of the market has also witnessed an increase owing to the major positions taken in Cement and Oil sector by investors, Analyst said.
However, cash dividend of Rs.2.75 or 27.5 per cent announced by OGDC was not according to the expectation of the market, despite registering a rise in the EPS from Rs.22.53 in 2012 to Rs.14.77 in same period of last year, Ahmed said. Total volume of shares traded was 145,600, which was up by 67,100 when compared with a day earlier’s closing.
Out of 122 companies’ shares traded, the price of 62 was increased while the price of 60 decreased. The price of top gainer Unilever Pakistan was increased by Rs.101.00 while the price of top loser top loser Mitchell Fruit Farma decreased by Rs.10.00. Fauji Cement Company, Fatima Fertilizer and PTCL remained volume leaders with volume of 100,000, 40,000 and 2,000 shares respectively.
