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Equities on Wednesday registered gains amid bullish sentiments on the Lahore Stock Exchange (LSE) mainly because of fresh entries in selective shares of banking, oil and cement sectors. The LSE-25 index recorded an improvement of 29.81 points and was ended at 2952.99 against 2923.18 of Tuesday, while transaction volume visibly improved to 11.969 million shares, as compared to 5.033 million shares traded a day earlier.
The trading started on a healthy sign and because of buying support, the index continued to rise almost throughout the day. The index rose to 2974 during early hours of trading showing a gain of over 50 points but could not sustain following slight selling pressure due to profit taking.
MCB Bank, National Bank, Askari Bank, Allied Bank, Habib Bank and United Bank from the banking sector, PPL, OGDC, Pak Oil Fields, Mari Gas, Nishat Power, Sui Northern and Sui Southern of the oil and energy sector kept the market in bullish zone, while Engro Chemical, Arif Habib Securities, D.G. Khan Cement, Lucky Cement, Fauji Cement and other cement companies also performed well. However, Adamjee Insurance, Pakistan State Oil, Fauji Fertiliser, Nishat Mills, Bank of Punjab and Bank Alfalah remained under pressure and were closed in minus column.
As many as 39 companies, out of a total of 102, appreciated their values, 22 were closed in negative zone, while 41 companies were closed at their previous levels. Among gainers, MCB Bank was improved by Rs 4.77, Mari Gas posted a gain of Rs 3.06, while Engro Chemical and PPL were up by Rs 2.31 and Rs 1.44, respectively.
On the contrary, Adamjee Insurance lost Rs 1.34, PSO was declined by 87-paisa, while Indus Motors and Packages Limited were down by 81-paisa and 50-paisa, respectively. Pakistan PTA with trading of 2.895 million shares topped the volume leaders followed by Arif Habib Securities with 1.297 million shares.

Copyright Business Recorder, 2009

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