Bullish trend continued for the second day on the Lahore Stock Exchange on Friday and equities extended further gains amid marginally decreased trading turnover on account the investors' conscious approach. The LSE-25 index jumped to 3410.64 against 3340.04 of Thursday, denoting an improvement of 70.60 points while transaction volume was slide down to 9.557 million shares as compared to 10.891 million shares traded a day earlier.
While continuing a day earlier sentiments, the market opened on a positive sign and stayed rising during the first trading session. The market also showed vertical rise during the second session following buying support in potential shares of oil sectors. As a result, Pak Oil Fields, Attock Refinery, Shell Pakistan, PPL, PSO, OGDC, and Byco Petroleum helped market stay in green zone. Adamjee Insurance, Pakistan Reinsurance, Engro Corporation, Lotte Pakistan PTA, D.G. Khan Cement, National Bank, Bank Alfalah, Nishat Mills, Arif Habib Securities also supported the sentiments.
On the contrary, Ravi Textile, Wateen Telecom, PICIC Energy Fund, Hub Power remained under pressure, as investors offloaded their positions to get out of the market ahead of weekend. The advancing stocks were ahead of declining ones, as out of a total of 116 companies, 59 companies registered gains, 11 landed in negative zone, while values of 46 companies stayed glued to their previous levels.
Pakistan Oil Fields gained Rs 9.57, Millat Tractors was improved by Rs 7.08, Attock Refinery was appreciated by Rs 5.72, while ICI Pakistan and Shell Pakistan were up by Rs 5.00 and Rs 4.93 respectively.
Ravi Textile Mills lost 63-paisa, Allied Bank was declined by 20-paisa while Wateen Telecom was depreciated by 14-paisa. Lotte Pakistan was the market leader whose 3.434 million shares changed hands followed by Bank of Punjab with 631,020 shares.
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