20000104

Gains lead on LSE

RECORDER REPORT

LAHORE: Equities at the Lahore Stock Exchange showed a bullish trend on Monday when an across-the-board buying trend was witnessed, and the market closed on a positive note.

The LSE-101 index registered an increase of 10.15 points, and was closed at 358.38 points against 346.23 of Thursday, while the total turnover registered a decrease of 33.936 million shares when the market closed at 28.223 million shares as against the previous day's 62.160 million shares.

According to the market dealers, major activity was witnessed in the PSO and PTC shares while other major and minor shares also increased their value.

According to a market analyst, Aun Abbas Kazmi of Khadim Ali Shah Bukhari and Company, the market remained depressed in the past due to the Indian plane hijacking incident, and now, when the hijacking drama was over, the market was returning to normalcy. He said the market registered positive activity as Wapda-Hubco negotiations were expected on January 06, 2000, while another news that an IMF delegation was visiting Pakistan in the current month also gripped the market.

He said that the overall position of the market looked good, and it was returning to its previous style.

Out of a total of 132 companies, 47 went up, 09 stayed in the negative column, while the position of 76 remained unchanged.

In the gainers column, Pakistan State Oil Co. Ltd. went up by Rs 13 with a total turnover of 6.269 million shares, Fauji Fertilizer Company registered increase of Rs 1.75 with total turnover of 1.258 million shares, while the Crescent Textile Mills, which went up by Rs 1.50, took the third place on Monday.

In the minus column, Crescent Investment Bank lost 50 paisas with a total turnover of 4,000 shares, Sui Southern Gas Co. Ltd. went down by 35 paisas with a total turnover of 94,500 shares while Al Faysal Inv. Bank Ltd. saw a decrease in its share value by 15 paisas with a total turnover of 9,000 shares.

P.T.C was the market leader on Monday with a total turnover of 12,053,000 shares followed by Pakistan State Oil with a turnover of 6,269,300 shares and FFC-Jordan Fertilizers remained third with a total turnover of 2,228,000.