Equities on Thursday staged recoveries on the Lahore Stock Exchange amid ascending transaction volume on account of fresh buying in oil sector shares. The LSE-25 index was improved by 13.79 points and was closed at 3983.83 against 3970.04 of Wednesday, while trading turnover was increased to 5.354 million shares as compared to 3.451 million shares traded a day earlier.
The market was opened on a healthy sign and maintained upward slide throughout the day, as investors stayed on buying course to pick shares of their choice. The oil sector shares like Pakistan Oil Fields, Attock Refinery, PSO, PPL and Byco Petroleum helped market move in bullish zone while Mari Gas, Engro Foods, MCB Bank, Bank Alfalah, Bank of Punjab, Lucky Cement, Nishat Mills, PTCL and Wateen Telecom also performed well.
However, profit taking was seen in the fertiliser companies including Engro Corporation, Dawood Hercules and Fauji Fertiliser. Besides, Adamjee Insurance, Pakistan Reinsurance, Maple Leaf Cement, Fauji Cement, Flying Cement, KESC, Pervez Ahmed Securities also remained under pressure. The gainers were more than the losers, as out of a total of 90 active issues, 35 companies registered gains, 13 went down, while 42 companies were ended at their previous closing.
Pakistan Oil Fields gained Rs 5.09, Attock Refinery was improved by Rs 4.75, Mari Gas was appreciated by Rs 4.00 while Engro Foods and PSO were up by Rs 3.29 and Rs 3.07, respectively. Engro Corporation lost Rs 1.06, Adamjee Insurance was declined by 67-paisa while Pakistan Reinsurance and Maple Leaf Cement were down by 49-paisa and 16-paisa, respectively. The Bank of Punjab with trading of 2.243 million shares topped the volume leaders followed by Silk Bank with 561,000 shares.
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