Mixed sentiment persisted on Lahore Stock Exchange during the week ended on May 30, 2009 and the equities moved up and down throughout the week while the index managed a gain of 34.84 points on account of some buying by individual investors as well as institutions. Transaction volume improved to 75.946 million shares against previous week's 65.319 million shares.
On Monday, the market took start on a negative note due to strike call by Jeay Sindh Qaumi Mahaz (JSQM) against entry of Swat displaced persons in Sindh. But fresh buying in attractive sectors like fertiliser, oil and gas, cement and securities companies pulled up the market into positive zone. But the index gained only 8.96 points as profit taking in MCB Bank, Royal Bank, National Bank, Habib Bank, United Bank and NIB Bank took place.
On Tuesday, equities moved both ways amid volatile situation, but ended with a marginal gain of 3.35 points with decline in turnover. The upward trend could not continue and investors started offloading their positions to pocket available margins. As a result, selling pressure was seen in MCB Bank, Royal Bank, Habib Bank, United Bank, National Bank, Bank Alfalah and NIB Bank which closed in minus column, while Adamjee Insurance, Attock Refinery, Lucky Cement and D.G. Kahn Cement also failed to support the market.
On Wednesdsy, the market opened on a positive note but the suicide bombing on Police Emergency office, that claimed lives of dozens of people including the police officials and injuring hundreds, forced the investors to offload their holdings, and the index ended with a gain of 12.84 points, with 13.581 million shares turnover.
On Thursday, the market remained in green zone almost throughout the day that pushed the index up by 26.95 points with rise in turnover to 16.489 million shares. Institutions and individual investors made fresh entries in PSO, Attock Refinery, PPL, OGDC, Engro Chemical, ICI Pak, Pakistan Reinsurance, Arif Habib Securities, Adamjee Insurance, Bank Alfalah, Bank of Punjab, National Bank, Pakistan PTA, DG Khan Cement, Lucky Cement. As a result, the market closed in positive zone.
On Friday, the market showed mixed trend and equities, after going up and down, closed in the red. The index recorded a decline of 17.26 points because of selling pressure on account of profit taking that was evident from the rise in volume to 16.872 shares.
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