Islamabad Stock Exchange (ISE-10) on Wednesday witnessed bullish trend as the index was up by 30.76 points to close at 2921.91 as compared to the previous day’s trading. AAH Securities Pvt Ltd, Stock Analyst, Zaheer Ahmed told APP that the results announced by HUBCO led the bullish rally in the local stock market.
“The HUBCO has declared 7.05 earning per share (EPS) for full year ended on June 30, 2012 and in addition, it announced Rs.3 dividend per share for half year”, he said, adding, “it has already dispatched Rs.3 dividend for first half totaling Rs.6 dividend per year”.
He said that the result session had started and the market was expecting positive earning of the companies because whatever the results announced by the companies were above the expectation of the market which was the positive indicator for the market. Moreover, the volume of the bourse was also increased because the investors have taken major positions in the blue chips companies and low-priced shares, he added. Total volume of shares traded was 82,793, which was up by 20,493 as compared to a day earlier closing. Out of 130 companies’ shares traded, the price of 103 was increased while the price of 27 decreased. The price of top gainer Unilever Pakistan was increased by Rs.124.25 and the price of top loser Akzo Noble Pakistan decreased by Rs.5.61. DK Khan Cement, Fauji Cement Company and Bank of Punjab remained volume leaders on Wednesday, with volume 40,000, 15,000 and 10,000 shares respectively.
