Equities on Thursday failed to maintain upward slide on the Lahore Stock Exchange (LSE) and registered declines in the absence of buying support, as most of the investors remained on the sideline. The LSE-25 index lost 12.34 points and was closed at 3124.89 against 3137.23 of Wednesday while transaction volume was restricted to 2.395 million shares as compared to last day volume of 3.404 million shares.
While continuing the day earlier sentiments, the market was opened on a healthy sign and kept on staying in positive zone for couple of hours. The market could not sustain and started sliding following offloading by the investors who preferred profit taking. As a result, the oil and fertiliser companies including Fauji Fertiliser, Engro Corporation, OGDC, PSO, PPL and Byco Petroleum remained under pressure while MCB Bank, Habib Bank, National Bank, Bank of Punjab, Lotte Pakistan PTA and Nishat Mills ended with losses.
However, United Bank, Pakistan Oil Fields, National Refinery, Askari Bank, Bank Alfalah, Fauji Fertiliser Bin Qasim and Dewan Farooq Motors stayed in positive column with marginal gains. The declining stocks were ahead of advancing ones. Of 111 companies, 19 stayed in positive column, 29 went down, while values of 63 companies remained unchanged.
Millat Tractor gained Rs 10.62, while United Bank and Pakistan Oil Fields were up by Rs 1.80 and Rs 1.35 respectively. Fauji Fertiliser lost Rs 1.29, Engro Corporation was declined by Rs 1.26 while MCB Bank and PSO were down by Rs 1.13 and Rs 1.07 respectively. Lotte Pakistan PTA with trading of 627,909 shares topped the volume leaders followed by Nimir Industrial Chemical with 259,800 shares.
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