Bullish sentiment dominated on Lahore Stock Exchange on Monday and equities stayed range-bound due to lack of interest on the part of investors who preferred to remain on sidelines. The LSE-25 index gained 39.61 points and closed at 3676.89 against 3637.28 of last Wednesday, while volume declined to 4.341 million shares as compared to 6.195 million shares.
The market opened on a positive note and stayed in green zone throughout the day. PSO, OGDC, Attock Refinery, MCB Bank, Nishat Mills, Engro Corp, Lucky Cement and United Bank helped the market stay in positive zone. National Bank, Dewan Farooq Motors, Dewan Salman Fibre, Askari Bank and Adamjee Insurance also performed well. However, PPL, Faysal Bank, Fauji Fertiliser, Fatima Fertiliser, Engro Polymer, DG Khan Cement and Dewan Cement suffered losses because of profit taking.
The gainers were far ahead of declining ones. Out of 134 active issues, 44 companies registered gains and 19 landed in minus column, while values of 71 companies remained unchanged. PSO improved by Rs 6.29, MCB Bank appreciated by Rs 4.56, Adamjee Insurance gained Rs 3.91, and Nishat Mills and OGDC were up by Rs 2.48 and Rs 1.90 respectively.
In the minus column, PPL lost Rs 2.48, and Bank Al-Habib declined by 38 paisa, while Soneri Bank and Dewan Cement were down by 25 paisa and 24 paisa respectively. Lotte Pakistan PTA, with trading of 526,373 shares, topped the volume leaders, followed by National Bank of Pakistan, with 454,845 shares.