Bullish sentiments prevailed on the Lahore Stock Exchange (LSE) on Tuesday and equities maintained upward slide following approval of the concept paper of margin financing by the KSE board of directors. The LSE-25 index was increased by 24.81 points and was closed at 3346.49 against 3321.68 of Monday, while transaction volume squeezed to 2.979 million shares, as compared to last day volume of 3.218 million shares.
The market opened on a healthy sign and kept on rising almost throughout the day. According to the analysts, the investors, in anticipation of final approval of the margin financing, stayed on buying course. The KSE board of directors has already accorded its approval to the concept paper. After the final approval, the margin financing system would be in place to help improve liquidity for the investment, they added.
The investors' interest in blue chips including Pak Oil Fields, PPL, Attock Refinery, Engro Corporation, Fauji Fertiliser, Fauji Fertiliser Bin Qasim, Adamjee Insurance, Lucky Cement, D.G. Khan Cement, National Bank, Bank Alfalah, Arif Habib Securities and Nishat Mills kept the market in green zone.
However, selling was seen in some banking and telecom companies including Soneri Bank, Faysal Bank, Habib Bank, Wateen Telecom, and WorldCall Telecom, while Pervez Ahmed Securities, Pakistan Reinsurance also remained under pressure.
The advancing stocks were ahead of declining ones, as out of a total of 111 active issues, 40 appreciated their values, 11 posted losses while values of 60 companies remained unchanged at their previous closing. Engro Corporation gained Rs 4.21, Pakistan Oil Fields was improved by Rs 4.11, Fauji Fertiliser was appreciated by Rs 4.06, while ICI Pakistan and PPL were up by Rs 1.97 and Rs 1.90, respectively.
JDW Sugar lost Rs 2.99, Securities Investment Bank was declined by 61-paisa, while Soneri Bank and Faysal Bank were down by 30-paisa and 20-paisa, respectively. Fauji Fertiliser topped the volume leaders with trading of 646,639 shares followed by National Bank with 448,279 shares.
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