The Lahore Stock Exchange witnessed another bullish rally on Tuesday as equities extended further gains amid ascending transaction volume on account of buyers' interest. The LSE-25 index was further improved by 146.16 points to close at 5699.38 against 5553.22 of Monday while trading turnover was increased to 2.283 million shares compared with day earlier volume of 1.611 million shares.
The market was opened on a healthy note and witnessed sharp rise due to buyers' interest in PSO, Shell Pakistan, OGDC, Byco Petroleum, Nishat Mills, Gul Ahmed Textile Mills, Glaxo Smith Kline, Engro Foods, Al-ghazi Tractors, Ferozsons Laboratories, Highnoon Laboratories, PIA, Bank of Punjab, Dewan Cement, Fauji Fertilizer, Fauji Cement and K-Electric which made reasonable gains. On the contrary, Engro Corporation, Fatima Fertilizer, Maple Leaf Cement, Lafarge Pakistan Cement, Hub Power, Adamjee Insurance, Haydery Construction, Faysal Bank, Silk Bank and Dewan Salman Fibre remained under selling pressure, as investors secured their positions.
The advancing stocks were ahead of the declining ones, as out of a total of 104 active companies, 40 posted gains, 12 wend down while 52 companies stayed glued to their previous closing. Ferozsons Laboratories gained Rs 22.09, Highnoon Laboratories was appreciated by Rs 12.75, PSO was improved by Rs 11.00 while Shell Pakistan, Nishat Mills and Glaxo Smith Kline were up by Rs 7.35, Rs 5.36 and Rs 4.64, respectively. In the minus column, Engro Corporation lost Rs 5.90 while Maple Leaf Cement and Hub Power were declined by 39-paisa and 26-paisa, respectively. PIA with trading of 514,000 shares topped the volume leaders followed by NIB Bank with 291,000 shares.
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