Bullish sentiment prevailed at Lahore Stock Exchange on Friday where equities extended gains but came under pressure because of profit taking ahead of closing of trading. The LSE-25 index marginally improved by 3.99 points and ended at 3839.59 points against 3855.60 points of Thursday, while volume reduced marginally to 7.642 million shares as compared to 8.145 million shares.
The market opened on a healthy sign and kept on rising during the first trading session. Amid vertical rise, the market gained over 70 points following buying support in Fauji Fertiliser, Fauji Fertiliser Bin Qasim, PSO, Attock Refinery, Pakistan Refinery, Allied Bank, United Bank, Habib Bank, Bank Alfalah, Askari Bank, National Bank, Adamjee Insurance and NetSol Technologies.
Equities showed further strength on resumption of trading during the second session. However, the market witnessed downward move when investors started offloading of their holdings to secure their positions before close of trading. As a result, Pakistan Oilfields, PPL, OGDC, Lucky Cement, MCB Bank, Nishat Mills, Lotte Pakistan PTA, Engro Polymer and Chemical, Nishat Chunian Power and Arif Habib Corporation suffered losses and ended in negative column.
The gainers were more than the losers, as of 114 active issues, 42 companies posted gains, 20 landed in negative column, while values of 52 companies remained unchanged.
Fauji Fertiliser gained Rs 4.73, PSO improved by Rs 4.38, Attock Refinery appreciated by Rs 3.80, Allied Bank was up by Rs 2.50 and Admajee Insurance gained Rs 2.19. Pakistan Oilfields declined by Rs 4.93, PPL lost Rs 3.48, Lucky Cement depreciated by Rs 2.90, MCB Bank was down by Rs 1.70 and Nishat Mills lost Rs 1.48. Lotte Pakistan PTA continued to be the market leader with trading of 2.083 million shares, followed by Fauji Fertiliser Bin Qasim with 967,902 shares.