Bullish sentiments dominated on the Lahore Stock Exchange (LSE) on Thursday and the equities registered gains across the board amid ascending trading turnover following fresh buying in blue chips. The LSE-25 index slide up to 3354.25 against 3296.38 of Wednesday, denoting an improvement of 57.87 points, while transaction volume also significantly improved to 27.736 million shares, as compared to last day volume of 15.587 million shares.
The market opened on a healthy sign and kept on rising for about first trading hour to touch the level of 3335. After showing horizontal move for a couple of hours, the market started further improving and touched the new high of 3359. As a result, most of the blue chips including OGDC, Pak Oil Fields, PSO, Attock Refinery, Adamjee Insurance, Pakistan Reinsurance, National Bank, MCB Bank, Mari Gas, Treet Corporation, NIB Bank, Bank Alfalah, Lafarge Pakistan Cement, Maple Leaf Cement Facto, Lotte Pakistan PTA and Fauji Fertiliser Bin Qasim showed strength and ended in green zone.
However, just ahead of closing of trading, a slight selling pressure pushed the market marginally down. The analysts attributed the bullish trend to the local investors' interest, while foreign funds also helped market improvement. According to them, the market may continue upward move in next week. As far as the situation in Hazara Division is concerned, it has already been discounted.
The advancing stocks were far ahead of declining ones. Of 124 companies, 56 posted gains, 16 landed in minus column, while values of 52 companies stayed glued to their previous levels. OGDC gained Rs 3.54, Treet Corporation was improved by Rs 3.48, Adamjee Insurance was moved up by Rs 2.63, while Mari Gas and Pak Oil Fields were up by Rs 2.54 and Rs 2.06, respectively.
In the minus column, Service Industries lost Rs 5.13, Engro Corporation was declined by Rs 1.51, while Kohinoor Energy and Kot Addu Power were depreciated by Rs 1.15 and Rs 0.74, respectively. NIB Bank topped the volume leaders with trading of 6.456 million shares, while Silk Bank stayed as runner up with 5.231 million shares.