Equities maintain upward trend

Equities maintained upward slide for the second consecutive day at the Lahore Stock Exchange (LSE) on Tuesday following buyers' interest in select shares. The LSE-25 index was fractionally improved by 0.46 point and was closed at 3,531.55 against 3,531.09 of Monday while transaction volume was squeezed to 7.379 million shares compared with 8.789 million shares traded a day earlier.
While continuing last day's sentiments, the market was opened on healthy sign and kept on moving up almost throughout the day following investors' interest in United Bank, Allied Bank, National Bank, Bank Alfalah and Habib Bank of the banking sector. Similarly, Dawood Hercules Corporation, Adamjee Insurance, NetSol Technologies, Fauji Fertiliser Bin Qasim and Lotte Pakistan PTA also performed well.
On the contrary, profit taking was also seen in Engro Corporation, Fatima Fertiliser, Fauji Fertiliser, Attock Refinery, PSO, Pakistan Engineering Company, D.G. Khan Cement, Pioneer Cement, Lafarge Pakistan Cement, Fauji Cement, Arif Habib Corporation and Kot Addu Power. As a result, the index lost what it gained during the day's trading.
The advancing stocks were ahead of the declining ones. Of 104 active issues 28 companies posted gains, 24 stayed in minus column while 52 companies stayed glued to their previous levels. Among gainers, Pakistan Oil Fields was improved by Rs 8.41, United Bank was appreciated by Rs 2.74, Allied Bank gained Rs 2.28 while Dawood Hercules Corporation and National Bank were up by Rs 1.73 and Rs 1.27, respectively.
In the minus column, Engro Corporation lost Rs 2.14, Attock Refinery was declined by Rs 1.53, Pakistan Engineering Company was depreciated by Rs 1.35 while D.G. Khan Cement and Arif Habib Corporation were down by 79 paisa and 74 paisa, respectively. National Bank with trading of 1.384 million shares topped the volume leaders followed by Lafarge Pakistan Cement with 1.074 million shares.