Equities moved both ways on Lahore Stock Exchange on Monday and ended on mixed note amid marginally improved trading turnover following fresh buying in selective shares. The LSE-25 index lost 16.45 points and closed at 3333.89 points against 3350.34 points of last Friday, while transaction volume increased to 3.605 million shares as compared to 3.030 million shares.
The market opened on a mixed note and kept on moving up and down forcing investors to adopt 'buy on dip and sell on strength' policy to secure their positions. Buying in Millat Tractors, Thal Limited, Habib Bank, United Bank, Bank of Punjab, Treet Corporation, Kot Addu Power, Pace Pakistan, and Lafarge Pakistan Cement helped the market in averting further declines.
Because of profit taking, some blue chips including Fauji Fertiliser, Engro Corporation, Fatima Fertiliser, PPL, PSO OGDC, Sui Northern remained under pressure. Adamjee Insurance, MCB Bank, National Bank, Nishat Chunian, Lotte Pakistan PTA and Arif Habib Corporation also failed to support the market sentiment.
Declining stocks were marginally more than the advancing ones. Of 109 active issues, 28 posted gains and 29 landed in minus column, while 52 companies remained unchanged. Unilever Pakistan gained Rs 111.68, Millat Tractors improved by Rs 11.50, Thal Limited appreciated by Rs 2.50, Habib Bank was up by Rs 1.79 and United Bank gained Rs 1.17.
Fauji Fertiliser lost Rs 2.81, PPL declined by Rs 2,50, Engro Corporation depreciated by Rs 2.31, PSO was down by Rs 1.97 and Adamjee Insurance lost Rs 1.50. Lotte Pakistan PTA was market leader with 720,790 shares, followed by Tariq Glass Industries with 531,063 shares.
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