LSE index gains 63.78 points
Equities on Tuesday staged recovery on the Lahore Stock Exchange and registered gains amid improved trading turnover. The LSE-25 index gained 63.78 points to close at 5494.42 against 5430.64 of Monday while transaction volume was increased to 969,100 shares compared with day earlier volume of 552,100 shares.
Copyright Business Recorder, 2014
The market was opened on a healthy note and kept on rising following fresh buying in banking and pharmaceutical sectors' shares like MCB Bank, National Bank, Faysal Bank, Allied Bank, Bank of Punjab, Bank Al-Habib Highnoon Laboratories, Glaxo Smith Kline and ICI Pakistan while Nishat Mills, D.G. Khan Cement and NetSol Technologies also helped market sentiments.
However, PSO, Gul Ahmed Textile Mills, Engro Fertilizer, Fatima Fertilizer, Pak Elektron, PTCL, Pakistan Reinsurance, Dewan Farooq Motors and Silk Bank remained under selling pressure. The advancing stocks were ahead of the declining ones, as out of a total of 92 active issues, 26 companies posted gains, 13 suffered losses while 53 companies stayed glued to their previous closing.
Highnoon Laboratories gained Rs 9.81, Glaxo Smith Kline was improved by Rs 5.03, while ICI Pakistan and Nishat Mills were up by Rs 3.43 and Rs 2.11, respectively. PSO lost Rs 8.10, Gul Ahmed Textile Mills was declined by Rs 1.02 while Engro Corporation and Fauji Fertilizer were down by 77-paisa and 50-paisa, respectively. Bank of Punjab was the market leader whose 216,000 shares changed hands followed by PIC with 100,000 shares.