Mixed sentiments prevailed on the Lahore Stock Exchange (LSE) on Thursday where equities moved both ways and finally settled in positive zone amid ascending transaction volume on account of fresh buying in selective scrips.
The LSE-25 index was marginally improved by 5.67 points to close at 3004.26 against 2998.59 of Wednesday while trading turnover was increased to 4.135 million shares, as compared to 3.274 million shares traded a day earlier.
The market opened on a positive sign but later kept on moving up and down almost throughout the day and finally ended with positive note. According to the analysts, the investors adopted "buy on dip and sell on strength" policy. They picked shares of their choice on dips but offloaded to pocket the available margin. They were of the view that the shares' values have come down to an attractive level that encouraged the investors to stay on buying course.
As a result, Attock Refinery, PPL, ICI Pakistan, Fauji Fertiliser, Nishat Mills, Lucky Cement, Lotte Pakistan PTA, United Bank, Silk Bank, Bank Alfalah, Bank of Punjab, National Bank, NIB Bank and Crescent Textile Mills showed strength and closed in green zone. However, PSO, OGDC, Adamjee Insurance, MCB Bank, Bank Al-Habib, Habib Bank, Faysal Bank and NetSol Technologies remained under selling pressure and were closed in minus column.
The gainers were far ahead of losers, as of 104 active companies, 38 appreciated their values, 13 landed in negative column, while values of 53 companies remained unchanged at their overnight closing. Among gainers, ICI Pakistan was improved by Rs 5.70, Attock Refinery gained Rs 2.51, Fauji Fertiliser was appreciated by Rs 2.23, while PPL was up by Rs 1.27.
In the minus column, PSO was declined by Rs 4.01, Adamjee Insurance lost Rs 2.95, Glaxo Smith Kline Pakistan was depreciated by Rs 1.20 while MCB Bank was down by Rs 1.14. Lotte Pakistan PTA was the market leader whose 1.935 million shares changed hands followed by Silk Bank with trading of 311,502 shares.