Equities move both ways on LSE
Friday, 16 April 2010
LAHORE, Apr 15 (Business Recorder): Equities Wednesday moved both ways on the Lahore Stock Exchange (LSE) and finally ended in green zone on account of fresh buying in selective shares.
The LSE-25 index marginally improved by 6.97 points and was closed at 3296.38 against 3289.41, while transaction volume was squeezed to 15.587 million shares, as compared to previous volume of 16.362 million shares.
The market opened on a positive note but after staying in positive zone started declining because of selling pressure in oil, banking and insurance sectors. As a result, United Bank, Askari Bank, Faysal Bank, OGDC, Adamjee Insurance, Engro Polymer and Chemical remained under pressure and closed with marginal losses.
However, after moving down from 3304 to 3280, the market again started rising and crossed the level of 3310. Engro Corporation, Treet Corporation, Mari Gas, Pak Oil fields, PSO, Attock Refinery, Pakistan Reinsurance, Arif Habib Securities, WorldCall Telecom, Silk Bank, Bank of Punjab and National Bank played important role in keeping the market in bullish zone.
The gainers were more than the losers. As many as 59 companies, out of a total of 107, posted gains, 14 registered losses, while 34 companies stayed glued to their previous levels. Among gainers, Engro Corporation was improved by Rs 5.20, Treet Corporation was appreciated by Rs 3.31, Mari Gas gained Rs 3.00, while Pak Oil Fields and PSO were up by Rs 2.05 and Rs 1.69, respectively.
In the minus column, Adamjee Insurance lost Rs 1.07, United Bank was declined by 63-paisa, while OGDC and Askari Bank were down by 16-paisa and 09-paisa, respectively. WorldCall Telecom was the market leader whose 3.607 million shares changed hands followed by Silk Bank with 3.572 million shares.
The LSE-25 index marginally improved by 6.97 points and was closed at 3296.38 against 3289.41, while transaction volume was squeezed to 15.587 million shares, as compared to previous volume of 16.362 million shares.
The market opened on a positive note but after staying in positive zone started declining because of selling pressure in oil, banking and insurance sectors. As a result, United Bank, Askari Bank, Faysal Bank, OGDC, Adamjee Insurance, Engro Polymer and Chemical remained under pressure and closed with marginal losses.
However, after moving down from 3304 to 3280, the market again started rising and crossed the level of 3310. Engro Corporation, Treet Corporation, Mari Gas, Pak Oil fields, PSO, Attock Refinery, Pakistan Reinsurance, Arif Habib Securities, WorldCall Telecom, Silk Bank, Bank of Punjab and National Bank played important role in keeping the market in bullish zone.
The gainers were more than the losers. As many as 59 companies, out of a total of 107, posted gains, 14 registered losses, while 34 companies stayed glued to their previous levels. Among gainers, Engro Corporation was improved by Rs 5.20, Treet Corporation was appreciated by Rs 3.31, Mari Gas gained Rs 3.00, while Pak Oil Fields and PSO were up by Rs 2.05 and Rs 1.69, respectively.
In the minus column, Adamjee Insurance lost Rs 1.07, United Bank was declined by 63-paisa, while OGDC and Askari Bank were down by 16-paisa and 09-paisa, respectively. WorldCall Telecom was the market leader whose 3.607 million shares changed hands followed by Silk Bank with 3.572 million shares.