Fund-buying lifts equity market up

LAHORE - The new equity support fund of Rs 25 billion finally came in, helping the market close up in green at 10,374.30 points, adding another 139.52 points in last closing.
Dealers said that market after initial hesitation gained another 139.52 points and if this is considered major correction it can extend for another day and may gain 300 to 400 points before resuming downward trend.
Trading was reported in 265 scrips and out of those 118 closed in plus column while 133 scrips closed in minus and 14 kept last closings. Though market moved up but volumes moved down and only 93.853m shares were traded. NIB bank remained on top in volumes leaders with traded volumes of 5.989m shares and closed rupees 0.44 down.
Earlier, market after weekend holidays opened 28.54 points plus at 10263.32 points but failed to sustain that level and came down. After some time market attempted another failed upward move and came back in red after spending some time in green. Market slide continued and it went down to 10057.72 points low. At that point market once again made an up wards move and came in plus column.
Future market volume increased and stands at 18.445mn shares as compared to last trading session 5.392mn. Market Capitalization stands over Rs.3.192tr.
Highest volumes were witnessed in NIB at 5.989mn closed at Rs. 9.48 with a gain of Rs. 0.44 followed by DGKC at 4.980mn closed at Rs. 51.03 with a gain of Rs. 2.43 & AHSL at 4.625mn closed at Rs.130.20 with a gain of Rs. 6.20