ISE Review: Equities gain, index up 2.5%

ISLAMABAD: Most equities gained value at the Islamabad Stock Exchange this week, while the ISE 10-share index gained 37.89 points, or 2.50 percent, over t he week, closing Friday at 1549.05 points after starting the week at 1,511.16 points.

“The bullish sentiment of the market and inclusion of OGDCL in the ISE 10-share index this week boosted the index,” said Aftab A Choudhry, managing director, Islamabad Stock Exchange.

From April 1, SEMF had been replaced by OGDCL in the ISE 10-share index. Total volume stood at 27.152 million shares during the week, compared with 24.71 million shares of the last week. However, last week the market remained open for our days only - March 23rd being a public holiday.

“The bullish sentiment of the market attracted investors and they took fresh positions,” said Naseer Ahmed, trading manager, Mumtaz Ali Malik brokerage. He said the market is expected to retain the bullish sentiment next week, and added that investors should buy energy sector scrips, especially OGDCL and PSO.

During the week, Pak Oilfields gained Rs 3.75 to Rs 225.35, OGDCL was up Rs 3.15 to Rs 61.35, while Hubco also gained 40 paisas and closed Friday at Rs 38.70. FF Bin Qasim was up Rs 1.70 and closed Friday at Rs 22.30, while PSO dropped Rs 2.40 to close at Rs 285.00 on Friday. —Staff Report

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