Bullish sentiments continued to prevail on Lahore Stock Exchange on Thursday and the equities registered gains amid increased trading turnover on account of fresh buying in select scrips. The LSE-25 index was further improved by 32.27 points to close at 3281.99 against 3249.72 of Wednesday while transaction volume was increased to 6.118 million shares as compared to last day volume of 4.562 million shares.
The market was opened on a mixed note and kept on moving up and down in a narrow range due to lacking investors' interest. The market witnessed selling pressure in some banking companies like Habib Bank, United Bank, Allied Banka and Bank Al-Habib. Similarly, Treet Corporation, Fauji Fertilizer Bin Qasim, Pace Pakistan, Pakistan Reinsurance, Pioneer Cement and Javed Omer Vohra and Company registered declines.
After staying in negative zone, the market showed sharp rise, as investors returned on buying course and made entries in Engro Corporation, Fatima Fertilizer, OGDC, Pakistan Oil Fields, PPL, Attock Refinery, Lucky Cement, D.G. Khan Cement, Lafarge Pakistan Cement, Fauji Cement, Engro Foods, Dawood Hercules Corporation, MCB Bank and Bank Alfalah that dragged the market into positive zone.
The advancing stocks were ahead of declining ones, as out of a total of 103 active issues, 38 companies posted gains, 15 stayed in negative zone while 50 companies remained unchanged at their day earlier closing levels. Among gainers, Engro Corporation gained Rs 6.07, OGDC was appreciated by Rs 4.26, Lucky Cement was improved by Rs 3.35 while Pakistan Oil Fields and Engro Foods were up by Rs 1.84 and Rs 1.75 respectively.
In the negative column, Habib Bank lost Rs 2.70, United Bank was declined by 65-pasia while Treet Corporation and Fauji Fertilizer Bin Qasim were down by 46-paisa and 27-paisa respectively. Lafarge Pakistan Cement was the market leader whose 1.562 million shares changed hands followed by Fauji Cement with 988,739 shares.
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