Depressed sentiments dominated on the Lahore Stock Exchange (LSE) on Thursday and the equities registered declines following selling pressure in selective scrips. The LSE-25 index was marginally declined by 1.02 points to close at 3178.79 against 3179.81 of Wednesday, while transaction volume was increased to 2.034 million shares, as compared to 1.995 million shares traded a day earlier.
The market was opened on a mixed note and remained range-bound on account of investors' conscious approach who remained on the sideline. After a couple of hours' trading, the investors started offloading of their holdings in Engro Corporation, Pakistan Oil Fields, Attock Refinery, Habib Bank, Bank Alfalah, Bank of Punjab, Arif Habib Corporation, Nishat Mills and PTCL.
However, just ahead of closing of trading, the investors returned to buying course and made entries in PPL, PSO, OGDC, Sui Northern, Lucky Cement an Fauji Fertiliser Bin Qasim that helped market recovery. Dewan Salman Fibre, KESC and Dewan Farooq Motors also supported the market sentiments.
The losers were more than the gainers, as out of a total of 112 active issues, 22 companies registered gains, 27 landed in minus column, while 63 companies were closed at their previous levels. PPL gained Rs 5.70, PSO was appreciated by Rs 3.27, MCB Bank was improved by Rs 1.60, while OGDC and SME Leasing were up by Rs 1.35 and Re 1.00, respectively.
Engro Corporation lost Rs 3.50, United Bank was declined by Rs 3.17, Pakistan Oil Fields was depreciated by Rs 1.66, while Attock Refinery was down by Rs 1.36. Fauji Cement topped the volume leaders with trading of 221,400 shares followed by Bank of Punjab with 195,499 shares.
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