Bullish sentiments dominated on the Lahore Stock Exchange on Monday and the equities registered handsome gains amid decreased trading turnover. The LSE-25 index jumped to 5550.18 against 5428.76 of last Friday, denoting a gain of 121.42 points while transaction volume was restricted to 1.611 million shares compared with previous volume of 2.050 million shares.
The market was opened on a healthy note and kept on rising following buyers' interest in select scrips including Crescent Steel & Allied, Engro Fertilizer, Engro Foods, DG Khan Cement, Cherat Cement, Maple Leaf Cement, Pak Elektron, Pakistan Insurance and Dewan Farooq Motors. However, profit taking was also seen in oil and energy sector shares like Pakistan Oil Fields, PSO, PPL, OGDC, Sui Southern, Sui Northern, Bank Alfalah, Dewan Cement and Pace Pakistan.
The gainers were more than the losers, as out of a total of 88 active issues, 28 companies posted gains, 13 suffered losses while 47 companies stayed glued to their last week closing. Pak Suzuki Motors gained Rs 15.40, Mari Petroleum was improved by Rs 15.06, and Crescent Steel & Allied was appreciated by Rs 2.60, while Engro Fertilizer, Engro Foods, and DG Khan Cement were up by Rs 2.45, Rs 2.41 and Rs 2.30, respectively.
Pakistan Oil Fields lost Rs 22.07, PSO was declined by Rs 8.37, PPL shed Rs 6.58, and OGDC was depreciated by Rs 3.95 while Sui Southern and Sui Northern were down by Rs 1.77 and Rs 1.19, respectively. Bank of Punjab was the market leader whose 456,500 shares changed hands followed by PIA with 218,500 shares.
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