Bullish trend continued for the third consecutive day on the Lahore Stock Exchange (LSE) on Friday and the equities extended further gains amid marginally decreased trading turnover. The LSE-25 index was further improved by 79.06 points and was closed at 3660.20 against 3581.14 points of Thursday, while transaction volume was squeezed to 6.457 million shares, as compared to 8.066 million shares traded a day earlier.
The market opened on healthy sign and kept on moving up during the first trading session because of buying in blue chips companies. The investors made entries in PSO, Attock Refinery, Pakistan Oil Fields, Pakistan Refinery and Mari Gas of the oil and energy sector. Similarly, the fertiliser sector's companies including Fauji Fertiliser, Engro Corporation and Fauji Fertiliser Bin Qasim also helped market stay in green zone, while Millat Tractors, Habib Bank, National Bank and Bank of Punjab also performed well.
During the second session, the market also witnessed bullish rally. However, some companies registered marginal declines because of the profit taking in PPL, Nishat Chunian, Nimir Industrial Chemical, Pervez Ahmed Securities, Nishat Power, Engro Polymer and Chemical and Lotte Pakistan PTA.
The gainers were considerably more than the losers, as of 101 active companies, 54 posted gains, 8 went down, while 39 companies stayed glued to their previous levels. PSO gained Rs 12.00, Engro Corporation was improved by Rs 10.51, Millat Tractors was appreciated by Rs 9.96, while Habib Bank and Fauji Fertiliser were up by Rs 6.10 and Rs 5.71, respectively.
On the contrary, Kot Addu Power lost Rs 1.80, PPL was declined by 22-piasa, while Nishat Chunian Power and Nimir Industrial Chemical were down by 16-paisa and 11-paisa, respectively. Lotte Pakistan PTA was the market leader whose 1.232 million shares changed hands followed by Bank Alfalah with trading of 1.153 million shares.
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