Bullish sentiment prevailed in Lahore Stock Exchange on Monday where equities registered gains amid improved trading turnover following fresh buying in oil, fertiliser and banking sector shares. The LSE-25 index gained 47.01 points and closed at 3989.43 points against 3942.42 points of last Friday while transaction volume increased to 12.328 million shares as compared to previous volume of 11.102 million shares.
The market opened on a healthy sign and crossed the level of 4000 points because of investors' interest in oil, fertiliser, banking and select scrips of some other sectors. As a result, PSO, Pak Oilfields, Attock Refinery, PPL, OGDC, MCB Bank, Bank Alfalah, National Bank, Bank of Punjab, and Askari Bank showed strength while Fauji Fertiliser, Fauji Fertiliser Bin Qasim and Fatima Fertiliser of the fertiliser sector also performed well.
However, because of profit taking, the index, after touching the day's peak level, started declining. Later, the market showed up and downward move but stayed in green zone. Engro Corporation, Nishat Mills, Nishat Power, Nishat Chunian, Standard Chartered Bank, Bank Al-Habib, and Summit Bank recorded marginal declines. Similarly, Byco Petroleum and Lotte Pakistan also registered losses.
The advancing stocks were ahead of declining ones, as out of 128 active issues, 52 companies registered gains and 19 went down, while values of 57 companies remained unchanged. PSO improved by Rs 7.86, Service Industries gained Rs 6.45, Tri Pack Film appreciated by Rs 6.44, Pakistan Oilfields was by Rs 4.94 and Fauji Fertiliser gained Rs 4.21.
Engro Corporation declined by Rs 2.37, Nishat Mills lost Rs 1.10 Dewan Cement was down by 85 paisa and ICI Pakistan lost 75 paisa. Lotte Pakistan PTA was market leader with 1.688 million shares, followed by Silk Bank with 1.526 million shares.