Bullish sentiment was observed on the Lahore Stock Exchange on Wednesday and equities registered gains amid considerably improved trading turnover following fresh buying interest on the part of investors. The LSE-25 index jumped to 3665.74 against 3595.99 of Tuesday, denoting an improvement of 69.75 points, while transaction volume also increased significantly to 13.084 million shares as compared to 6.230 million shares traded a day earlier.
The market opened on a healthy sign and kept on rising almost throughout the day. The market gained over 65 points during first couple of hours, but witnessed reversal following cautious approach by investors. However, after staying range-bound for an hour, the market witnessed sharp rise because of aggressive buying in oil and banking sectors.
Pak Oilfields, PPL, PSO, OGDC, MCB Bank, Habib Bank, National Bank, United Bank, Bank Alfalah, Bank of Punjab and NIB Bank, Engro Corporation, Lotte Pakistan PTA, Silk Bank, D G Khan Cement, Lafarge Pakistan Cement and Dewan Salman Fibre performed well. However, Fauji Fertiliser, Lucky Cement, Dewan Cement, Nishat Mills, Sui Southern, Hub Power, Pervez Ahmad Securities, NetSol Technologies, and Service Industries stayed in negative zone and suffered marginal losses.