Equities witnessed broad-based recovery on the Islamabad Stock Exchange (ISE) where star performers showed substantial gains under the lead of Fauji Fertiliser, OGDC, PTCL and PPL amid increase in index. ISE chairman Abdul Waheed Jan said the market witnessed technical correction due to oversold position in all leading stocks. The market went down in the first trading hour, but later recovered due to the announcement of bonus by the Fauji Fertiliser.
The news of dividends by different companies supported the market and moved the entire ready-board in upward direction. However, investors should remain cautious while injecting investment in the market.
The ISE Index showed substantial gains during the entire trading session.
Total 120 companies participated in buying and selling activity. Majority of stocks (80) closed in positive territory, 40 showed negative signs while zero company remained pegged to its previous level.
The volume of OGDC was 202,100 shares against previous turnover of 765,900 shares. The turnover of the PTCL was 1,029,500 shares as compared to previous volume of 1,528,500 shares. The turnover of Pakistan Oilfields was 92,200 shares as compared to previous turnover 154,100 shares.
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