The home side, conquerors of Maltese side Hamrun in the previous round, enjoyed the majority of the early possession and Walid Hamidi forced Ferguson into a smart save in the 15th minute.
Andy Ryan looked dangerous for the visitors, bringing a stop from Enea Kolici in the hosts’ goal.
Ballkani piled on the pressure and the Irish League champions had Ferguson to thank again when Bernard Karrica picked up a loose ball and drove into the left-hand side of the penalty area before unloading a low drive which the Larne keeper got a foot to and deflected the ball wide.
Karrica was wasteful again soon after when he could only head an effort into the ground but his blushes were spared somehwat when an offside flag went up.
Larne began the second half in brighter fashion and Lee Bonis’s low drive from 25 yards out was well saved by Kolici.
Ferguson denied Almir Kryeziv with his feet and then the ball landed to Lindon Emerllahu at the edge of the area but he rifled his shot wide.
Ryan’s cross bounced off the Ballkani crossbar late on, before Lusty’s late intervention put his side in the driving seat going into next week’s second leg.