Bullish sentiments dominated on the Lahore Stock Exchange (LSE) on Tuesday and the equities registered gains across the board amid ascending transaction volume on account of fresh buying in blue chips. The LSE-25 index gained 35.58 points and was closed at 2945.28 points against 2909.70 points of Monday, while trading turnover was considerably increased to 1.033 million shares, as compared with 418,870 shares traded a day earlier.
The market was opened on a healthy sign but remained range-bound almost throughout the day. However, ahead of closing of trading, the market witnessed aggressive buying, the market was sharply moved up and ended on positive note.
The investors showed interest in Pakistan Oil Fields, OGDC, Attock Refinery, National Refinery, Byco Petroleum, Engro Corporation, Fauji Fertiliser, Fauji Fertiliser Bin Qasim, Fatima Fertiliser, United Bank, National Bank and Engro Foods that resulted in visible improvement in their values. Moreover, Millat Tractors and Al-Ghazi Tractors also registered handsome gains following significant reduction in general sales tax on tractors from 16 percent to 5 percent.
However, Tri-Pack Films, D.G. Khan Cement, Arif Habib Corporation and Dewan Salman Fibre remained under pressure. The advancing stocks were ahead of the declining ones. Of 96 active issues, 32 companies posted gains, 5 registered declines, while 59 companies stayed glued to their previous levels.
Among gainers, Millat Tractors was improved by Rs 19.78, Al-Ghazi Tractors was appreciated by Rs 7.06, Pakistan Oil Fields gained Rs 5.44, while OGDC and Engro Corporation were up by Rs 4.58 and Rs 4.57, respectively. In the minus column, Tri-Pack Films lost Rs 4.05, while D.G. Khan Cement and Arif Habib Cement were down by 10-paisa each. Lotte Pakistan PTA was the market leader whose 423,190 shares changed hands followed by National Bank with 108,445 shares.