Mixed trend was witnessed on Lahore Stock Exchange on Monday and equities registered gains amid lack of interest on the part of investors who preferred to stay on the sidelines. The LSE-25 index improved by 23.09 points and closed at 2817.25 points against 2794.16 points of last Friday, while volume decreased considerably, to 649,399 shares, as compared to 1.236 million shares.
The market opened on a healthy sign but remained range-bound almost throughout the day. That restricted investors from taking position. However, last hour buying in fertiliser and insurance companies helped improve the index. Fauji Fertiliser, Fauji Fertiliser Bin Qasim, Engro Corporation, and Fatima Fertiliser posted gains, while MCB Bank, Bank of Punjab, Adamjee Insurance, Arif Habib Corporation and Kohat Cement also supported the market sentiment.
On the contrary, OGDC, Attock Refinery, Pakistan Oilfields, PPL and Byco Petroleum remained under pressure, while Millat Tractors. Dawood Hercules Corporation Sui Northern, Lotte Pakistan PTA, NetSol Technologies and Silk Bank also ended in minus column. Gainers were more than losers, as of 89 active issues, 21 companies posted gains and 15 showed losses, while 53 companies remained unchanged. Fauji Fertiliser gained Rs 3.94, Engro Corporation appreciated by Rs 2.37, MCB Bank improved by Rs 2.00, Fatima Fertiliser gained 94 paisa, and Pakistan Reinsurance was up by 83 paisa.
OGDC lost Rs 5.50, Millat Tractors declined by Rs 3.19, Attock Refinery was down by Rs 2.53, Pakistan Oilfields lost Rs 2.45, and PPL was down by Rs 1.64. Bank of Punjab was market leader whose 144,796 shares changed hands, followed by NIB Bank with 101,100 shares.
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