LSE index further improves
Equities on Thursday moved both ways on the Lahore Stock Exchange and finally stayed in green zone amid descending transaction volume on account of cautious approach of investors. The LSE-25 index was further improved by 59.08 points to close at 5820.05 against 5760.97 of Wednesday while transaction volume was squeezed to 1.426 million shares compared with day earlier volume of 3.253 million shares.
Copyright Business Recorder, 2014
The market, after opening on a positive sign took a dip and stayed in negative zone for a couple of hours. However, last hours' buying in bluechips dragged the market into green zone. The oil sector shares including PSO, Shell Pakistan, PPL, Byco Petroleum, Engro Foods, Engro Corporation, Nishat Chunian, Nishat Mills, Maple Leaf Cement, Leiner Pak Gelatine, Tariq Glass, Askari Bank, Bank Alfalah and Dewan Farooq Motors helped market sentiments.
However, Mari Petroleum, Pakistan Oil Fields, MCB Bank, SME Leasing, Idrees Textile Mills, Maqbool Textile Mills, Sui Southern, Fauji Fertilizer, KASB Bank and Bank of Punjab were succumbed of profit taking. The gainers were more than the losers. Of 88 active companies, 30 posted gains, 15 stayed in negative column, while 43 companies were ended without any change. PSO gained Rs 7.34, Shell Pakistan was improved by Rs 3.68, PPL was appreciated by Rs 3.10 while Engro Foods and Engro Corporation were up by Rs 2.19 and Rs 2.00, respectively.
In minus column, Mari Petroleum lost Rs 25.50, MCB Bank was declined by Rs 9.00, Pakistan Oil Fields was depreciated by Rs 8.83 while SME Leasing and Idrees Textile Mills were down by Re 1 each. Bank of Punjab with trading of 316,000 shares topped the volume leaders while IGI Investment Bank stayed as runner up with 192,500 shares.