Equities depicted a volatile behaviour on the Lahore stock market on Thursday, where the benchmark index ended with a fractional fall, however, volume showed a slight improvement. The LSE-25 index finished at 4,875.90 points as opposed to 4,882.33 of Wednesday, registering a slight decrease of 6.43 points.
Overall volume improved to 50.764 million shares from 47.569 million of the previous session, increasing by 3.195 million shares. The market showed a volatile movement as equities kept moving both sides throughout the day. According to brokers, the Lahore market index on Thursday behaved quiet against the KSE-100 index, which gained 107.57 points.
However, an analyst explained that it was not an unusual phenomenon saying: "On many a occasion, we have witnessed this difference of behavior." Arif Habib Securities and JOVC closed on upper cap limits and command the market while Adamjee Insurance and MCB Bank led the losers side.
Although the market behaved roller coaster, a number of sectors outperformed and reached their upper cap limits on Thursday, said Mirza Ejaz Ullah Baig, director, Capital Vision Securities Ltd Especially, the small banks did very well in anticipation of their good earnings, he added.
Saudi Pak Commercial Bank, Picic Commercial Bank, Standard Chartered Bank and Allied Bank were locked at the upper limits. Cements also performed better following reports of their expansion plans and good earnings. It is anticipated that their market proportion will increase in terms of turnover, he maintained. "The market sentiment is likely to remain bullish in the coming sessions and I think there is still room for the short-term investors," he said. Out of a total of 138 traded scrips, 31 improved their worth, 39 landed in negative column, while 68 stayed intact to their previous levels.
Among major gainers, Arif Habib Securities was up Rs 5.35, Javed Omer Vohra & Co Rs 5.10, Allied Bank Rs 3.20, Fauji Fertiliser Rs 2.40 and PPL Rs 2.30. In minus column, Adamjee Insurance shed Rs 12.90, MCB Bank Rs 9.00, Pakistan Oilfields Rs 4.00, Lucky Cement Rs 3.70, and National Bank Rs 3.55. Bosicor Pakistan was the volume leader with 6.277 million shares followed by Fauji Cement with 5.670 million shares.