Manager First National Equity Pvt Ltd Islamabad, M.M. Hassan said that after a few days consecutive bearish trend in the market because of technical corretion, big investors had taken position especially blue chips scrips at lower level of index.

He added that the main reason of resumption of bullish trend in the stock markets was annoucement of positive results of corporate sectors.

Senior Equity Dealer, Ismail Iqbal Pvt Ltd, Zaheer Ahmed told APP that the positive annoucemnt by Fauji Fertilizer Corporation (FFC) of earning per share and dividend had boosted the confidence of investers to participate in intra-day trading.

He said that Fauji Fertilizer (FFC) announced 1st Half 2011 earning per share of Rs9.65, up by 61 percent and moreover, the result was also accompanied by second interim cash dividend of Rs4.75 per share.

He further said that majority investors took positions on FFC which was trading at 2011 price earning ratio of 7.4x and dividend yield of 14 percent.

Total 32,000 shares were traded, which were down by 126,268 as compared to 158,268 a day earlier.

Out of 119 shares, the price of 72 was increased while the price of 47 decreased.

The price of top gainer Unilever was increased by Rs. 138.53 while the price of top loser decreased by Rs. 5.00.

Bank of Punjab, Attock Refinery and Pakistan Oilfields were remaind volume leaders on Friday with volume of 18,000, 6,000 and 4,000 respectively.

Copyright APP (Associated Press of Pakistan), 2011