Closing Bell - Market shrugs off last weeks upsets

After the last week’s bloodshed, the carnage appears to have subsided. With market crossing the 50,000 points threshold, as automobile assemblers, automobile parts and accessories, cement, chemical, commercial banks, fertilizer, oil & gas exploration, oil & gas marketing and power generation and distribution ended with most scrips in green.

The week started on a bullish note as seasoned investors saw the drop in prices as an opportunity to invest more deeply into the market. The market increased by a total of 1565.63 points.

Market closed on a tally of 50,120.93 points or a +3.22%. The market was in a much better position today compared to the last week. The session’s trajectory was all in ascending after an initial dip downward during the early hours of the morning.

The net gainers during today’s session were; Wyeth Pakistan WYETH +5.00%, Unilever Pakistan Foods Limited UPFL +1.61%, Indus Motor Company INDU +5.00%, Mari Petroleum MARI +5.00% and Sanofi-Aventis Pakistan Limited SAPL +4.13%

The net decliners during the session were; Rafhan Maize Products Company Limited RMPL -0.87%, Indus Dyeing and Manufacturing Co. IDYM -5.00%, Shahtaj Textile Limited STJT-4.89%, AKD Capital Limited AKDCL -4.01% and Murree Brewery Company Ltd. MUREB -0.66%.

All Share Volume increased by 33.38 Million to 255.14 Million Shares. Market Cap increased by Rs.268.05 Billion.

Total companies traded were 391 compared to 356 from the previous session. Of the scrips traded 325 closed up, 49 closed down while 17 remained unchanged.

Total trades increased by 5,341 to 79,638.

Value Traded decreased by 1.92 Billion to Rs.13.86 Billion