Equities moved both ways on LSE

Equities moved both ways on Lahore Stock Exchange on Tuesday and ended in green zone following fresh buying in insurance sector shares and securities companies in anticipation of attractive financial results. The LSE-15 index managed a gain of 15.58 points at 2964.48 points against 2948.90 of Monday points.
Transaction volume reduced to 12.162 million shares as compared to 14.253 million shares traded a day earlier. Last hour buying in EFU General Insurance, IGI Insurance, Admajee Insurance, Arif Habib Securities, Nishat Mills, Fauji Fertiliser Bin Qasim, and Pak Oilfields helped the market to close in positive zone.
However, Bank Alfalah, National Bank, Bank of Punjab, Bosicor Pakistan, D.G. Khan Cement and Pace Pakistan remained under pressure and closed in red. The market opened on a healthy note but could not sustain due to offloading by investors who preferred to get out of the market at available margins. As a result, the market kept on declining till midday when fresh buying again put the market on rising trend.
The investors were expecting amendment in the Kerry-Lugar Bill in the backdrop of Pakistani Foreign Minister's current visit to the USA where he would convey the government's concern over the controversial clauses, said Muhammad Ishaq of Abbasi and Company while commenting on the market sentiment.
Only law and order situation, particularly the terrorist attack in reaction to the army operation in South Wazirstan, upset the market sentiment. Otherwise, the fundamentals are strong enough to keep the market on rising trend, he said. The current values of the dividend-oriented companies are attractive which could invite investors' attention, he said, adding that buying in December would help the market sustain in positive zone. Securities companies, banks and insurance companies would play key role in providing support to the market sentiments, he added.
As many as 41 companies, out of a total of 123, posted gains, 37 went down, and 45 companies stayed glued to their previous levels. Atlas Battery improved by Rs 7.90, Atlas Honda gained Rs 6.35, EFU General Insurance appreciated by Rs 5.46 while IGI Insurance and Nishat Mills were up by Rs 5.15 and Rs 2.68 respectively.
Mari Gas lost Rs 2.73, Kohinoor Power declined by Rs 1.00 while First IBL Modaraba and Nishat Power were down by 93 paisa and 57 paisa respectively. Arif Habib Securities with trading of 2.912 million shares topped the volume leader while Bank Alfalah stayed as runner up with 1.376 million shares.