LSE index gains 19.03 points

Despite profit taking, bullish sentiments dominated on the Lahore Stock Exchange on Monday where equities registered gains across the board amid increased trading turnover on account of investors interest that remained intact throughout the day.
The LSE-25 index gained 19.03 points and ended at 2307.00 against 2287.97 of last Friday while transaction volume significantly improved to 41.873 million shares as compared to 36.431 million shares traded on last day of the previous week.
Most of the banking shares including National Bank, MCB Bank, NIB Bank, Bank Alfalah, Bank of Punjab, Allied Bank helped market closure in green zone while Maple Leaf Cement, and Lucky Cement from the cement companies and Nishat Mills, Adamjee Insurance also supported the market. However, PPL, Shell Pak, Pakistan Oil Fields, PSO in the oil sector witnessed profit taking while United Bank, Engro Chemical, also remained under pressure and closed in negative column.
The market opened on a healthy sign and almost stayed in green zone during the entire days trading. The analysts accounted the positive outlook of the countrys economy for the present bullish rallies following developing foreign exchange reserves and promises and actual realisation of IMF loan into Pakistans account.
"During last few days, Pakistan had to face very serious incidents including bomb blasts, suicidal and terrorist attacks in various parts of the country that frightened the general public but strong fundamentals did not let upset the market sentiments" the experts said. The index has breached the crucial level of 2300, they said adding if the index sustains above 2300 level on Tuesday, the market would make more gains in next couple of days.
Advancing stocks were ahead of declining ones as out of a total of 140 active issues, 58 companies recorded gains, 23 stayed in negative column, while values of 59 companies remained unchanged at their previous levels. Attock Refinery gained Rs 4.64, National Bank improved Rs 4.58, MCB Bank was appreciated by Rs 4.28 while Adamjee Insurance and IGI Insurance were up by Rs 3.87 and Rs 3.74 respectively.
In minus column, United Bank lost Rs 4.95, PPL declined by Rs 4.49, Packages Limited shed Rs 3.31 while Engro Chemical and Shell Pakistan were down by Rs 3.02 and Rs 3.00 respectively. NIB Bank was the market leader whose 8.249 million shares changed hands followed by National Bank with trading of 3.667 million shares.