Bearish sentiment was observed at Lahore Stock Exchange on Wednesday where equities failed to maintain upward move in the absence of investors' interest. The LSE-25 index lost 8.13 points to close at 3171.52 points against 3179.65 points of Tuesday while volume squeezed to 1.560 million shares as compared to 2.961 million shares.
The market opened on a depressed note and kept on declining during the first trading hour. As a result, Engro Corp Habib Bank, National Bank, Nishat Mills, OGDC, Nishat Chunian, Arif Habib Corporation, NetSol Technologies, Dadabhoy Cement and Lotte Pakistan PTA remained under selling pressure due to profit taking.
Later, the market moved in a narrow range amid lacklustre situation due to lack of interest on the part of investors. However, last-hour buying in some blue chips including PSO, PPL, Attock Refinery, Reliance Weaving Mills, D G Khan Cement and, Fauji Fertiliser helped in marginal recovery. The losers were more than the gainers. As many as 16 companies, out of a total of 115, posted gains and 30 registered losses, while 69 companies remained unchanged.
PSO was upby Rs 4.40, Millat Tractors appreciated by Rs 2.00, and Flying Cement and Reliance Weaving Mills gained 65 paisa each, while PPL was up by 26 paisa. Engro Corp lost Rs 2.06 and Habib Bank declined by Rs 1.01, while Dadabhoy Cement and Nishat Mills depreciated by 93 paisa and 57 paisa respectively. SilkBank topped the volume leaders with trading of 507,221 shares while Nimir Industrial Chemical with 177,419 shares stayed as runner-up.
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