Today's Market

The market closed up 129pts after rising 300pts intra day to close at 41253. Volumes were 17pc higher at 657mln shares while value traded was 4pc higher at Rs17.9bln.

Most bigcap stocks were marginally higher or lower with the exception of SHEL which closed 5pc up and PPL which closed almost 3pc lower presumably due to unfavorable expectations in quarterly results.

The markets tone was quite positive perhaps beyond the modest index gain. WYETH, HINO, EXIDE, MTL, SFL, ATLH, AGTL, THALL, OTSU closed at uppercap. According to the PSX website over 40 stocks close at uppercap today. LOTCHEM and JSBL rose over 12pc today. Textiles rallied on account of better terms from the government.

GTYR closed down 5pc after its announcement.

Flows for the day were negative to the tune of USD0.9mln. Market is likely to test 41500 in the short term, given the prevailing sentiment.