Equities on Wednesday staged recovery amid bullish sentiments on the Lahore Stock Exchange and registered gains following fresh buying in oil sector shares. The LSE-25 index jumped to 5055.92 against 4954.93 of Tuesday, denoting a gain of 100.99 points while transaction volume was increased to 1.894 million shares compared with day earlier volume of 1.659 million shares.
The market was opened on a healthy note and kept on rising following buyers' interest in oil sector shares including Mari Petroleum, PSO, Pakistan Oil Fields, Hascol Petroleum and PPL while Excide Pakistan, Pioneer Cement, Nishat Chunian, K-Electric and Pakgen Power also performed well. However, Engro Fertilizer, Askari Bank, PTCL, Nishat Mills, Faysal Bank, and Pervez Ahmed Securities registered marginal declines. The advancing stocks were ahead of the declining ones, as out of a total of 85 active issues, 29 companies posted gains, six ended in minus column, while 50 companies remained unchanged at their previous closing.
Excide Pakistan gained Rs 18.36, Mari Petroleum was improved by Rs 13.12, PSO was appreciated by Rs 8, while Pakistan Oil Fields, Hascol Petroleum and PPL were up by Rs 5.25, Rs 1.9 and Rs 1.5, respectively. Engro Fertilizer lost Re 1, while Askari Bank and PTCL were shed by 33-paisa and 23-paisa, respectively. Bank of Punjab with trading of 618,000 shares topped the volume leaders followed by Lafarge Pakistan Cement with 268,500 shares.