Bullish sentiments prevailed on the Lahore Stock Exchange (LSE) and the equities registered gains amid decreased trading turnover because of lacking interest on the part of investors who remained on the sideline. The LSE-25 index was improved by 19.10 points and ended at 3189.47 against 3170.37 of Thursday, while transaction volume was squeezed to 3.152 million shares, as compared to 5.004 million shares traded a day earlier.
The market opened on a positive sign and remained range-bound during the first trading session. However, following fresh entries in oil sector shares like PSO, Attock Refinery, Pak Oil Fields, OGDC and Byco Petroleum, the market sharply moved up while Engro Corporation, Nishat Mills, Adamjee Insurance, Arif Habib Securities and Nishat Chunian also helped market stay in green zone.
However, the banking sector shares including Habib Bank, National Bank, Faysal Bank, United Bank and Allied Bank remained under pressure while Fatima Fertiliser and PICIC Growth also failed to perform. According to the investors, the market witnessed sluggish trend because of murder of MQM leader Dr Imran Farooq in London. A complete shutter down was observed in Karachi as a part of 10-day mourning announced by the MQM. This situation negatively impacted the trading activity at the bourses, they said.
The gainers were ahead of losers, as of 107 active issues, 34 companies registered improvement, 23 posted losses, while values of 50 companies remained unchanged at their previous levels. Among gainers, PSO was improved by Rs 4.63, Attock Refinery gained Rs 4.07, Engro Corporation was appreciated by Rs 3.14, while Pak Oil Fields and Nishat Mills were up by Rs 2.56 and Rs 2.33, respectively.
In the minus column, Millat Tractors lost Rs 11.23, Habib Bank was declined by 62-paisa, while National Bank and Sui Northern were down by 51-paisa and 50-paisa, respectively. D.G. Khan Cement topped the volume leaders with trading of 403,297 shares followed by Nishat Mills with 337,734 shares.
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