LSE index marginally declines
Bullish sentiments dominated on the Lahore Stock Exchange on Wednesday and the equities extended further gains amid decreased trading turnover. However, the LSE-25 index was marginally declined by 3.93 points and closed at 4956.37 against 4960.30 of Tuesday, while transaction volume was squeezed to 3.829 million shares compared with day earlier volume of 4.886 million shares.
Copyright Business Recorder, 2014
The market was opened on a healthy note and kept on rising throughout the day, as investors stayed on buying course and made entries in select shares including PSO, PPL, Byco Petroleum, Engro Foods, Treet Corporation, Engro Corporation, DG Khan Cement, Lafarge Pakistan Cement, Nishat Chunian, Askari Bank, Bank Al-Habib, Bank of Punjab and Pak Elektron.
However, National Bank, Maple Leaf Cement, Dewan Cement, Nishat Mills, Nishat Chunian, Adamjee Insurance, Japan Power, Sui Southern and Engro Polymer & Chemicals remained under selling pressure.
The gainers were more than the losers. Of 96 active issues, 31 companies posted gains, 15 suffered losses while 50 companies stayed glued to their last day closing.
PSO gained Rs 15.17, PPL was improved by Rs 4.50, Engro Foods was appreciated by Rs 3.89 while Treet Corporation and Engro Corporation were up by Rs 3.21 and Rs 2.99, respectively. National Bank lost Rs 2.57 while Maple Leaf Cement and Nishat Mills shed Rs 1.43 and Rs 1.10, respectively.
NIB Bank with trading of 892,000 shares topped the volume leaders followed by E-Electric with 691,000 shares.