Islamabad Stock Exchange (ISE-10) here on Tuesday witnessed bullish trend as the index gained 32.26 points to close at 3201.34 as compared to the previous day’s trading.
Talking to APP, Stock Analyst, Zaheer Ahmed said that the decline in Consumer Price Index (CPI), announced a day earlier, led the bullish rally in the local stock market.
Besides, the reduction by 35 to 40 per cent on the rate of Treasury Bills (TBs) and Pakistan Investment Bonds (PIBs) which auctioned some days back has increased the confidence of the investors, he added.
Moreover, Due to these both developments, the market was expecting the cut on the policy rate by 50 to 100 basis points (bps) to be announced on October, 5, he said, adding this would enhance the investment in the stock and other business in the country.
“We are expecting in the boom in the business because of the availability of cheap loan in the country”, Another Business Analyst Jeewan said while talking to APP on Tuesday.
In addition, the earning of exploration companies has been increased by 30 per cent and the earning of cement sector by 100 per cent when compared them with previous year’s earning, he added.
Total volume of shares traded was 12,000, which was down by 45,600 as compared to a day earlier’s closing.
Out of 135 companies’ shares traded, the price of 81 was increased while the price of 54 decreased.
The price of top gainer Mitchell Fruit Farma was increased by Rs 16.37 while the price of top loser Siemens Pakistan Engineering decreased by Rs.37.95.
Karachi Electric Supply, Dawood Hercules Cor. and PTCL remained volume leaders, with volume of 4,000, 3,000 and 2,000 shares respectively.
