Bullish sentiments dominated on the Lahore Stock Exchange (LSE) on Tuesday and the equities maintained upward slide under the lead of oil sector amid decreased trading turnover due to lacking investors' interest. The LSE-25 index gained 25.34 points and was closed at 3081.39 against 3056.05 of Monday, while transaction volume squeezed to 1.074 million shares, as compared to 1.567 million shares traded a day earlier.
The market opened on a healthy sign and kept on rising during the entire day's trading, as investors stayed on buying course and picked scrips of their choice. As a result, Pak Oil Fields, OGDC, Attock Refinery, PSO, Millat Tractors, MCB Bank, Nishat Mills, Engro Corporation, Sui Southern, Treet Corporation, Arif Habib Securities and D.G. Khan Cement showed strength and improved their values. However, United Bank, NetSol Technologies, Javed Omer Vohra and Company, Southern Electric Power, Nishat Chunian, Bank of Punjab, and Fatima Fertiliser remained under pressure and stayed in red zone.
According to the analysts, the market still lacks investors' interest that is evident from the insignificant trading turnover. The market is expected to witness sluggish trend in the coming days and trading turnover would not be improved until the margin financing issue is resolved, they added.
The gainers were more than the losers, as of 98 active issues, 30 companies posted gains, 22 landed in minus column, while values of 46 companies stayed unchanged at their previous levels. Millat Tractors gained Rs 18.77, PSO was improved by Rs 3.44, Pak Oil Fields was appreciated by Rs 3.28, while MCB Bank and OGDC were up by Rs 1.66 and Rs 1.50, respectively.
In the minus column, Sui Northern lost 89-paisa, United Bank was declined by 80-paisa, while Flying Cement and NetSol Technologies were down by 45-paisa and 43-paisa, respectively. Lotte Pakistan PTA with trading of 315,124 shares topped the volume leaders, while Arif Habib Securities stayed as runner up with 88,238 shares.