Today's market

The market opened sharply lower on concerns regarding arrests of officials of a big brokerage house. At one point the index was almost 500pts lower. Later the market recovered most of its losses on reassurance by government officials. Turnover was higher by 30pc while value traded also increased by 35pc. Turnover was 142mln shares and value traded was Rs 8.5bln. The Index closed just 25pts lower at 32984. Today's net foreign inflow of USD2.6mln also supported the market.

NCL and Gul Ahmad traded higher by 4.3 and 5pc. The auto sector saw gains today in INDU, PSMC and HCAR of 4.7, 2.4 and 3.7pc on expectations of healthy sales.