Equities on Thursday moved both the ways on the Lahore Stock Exchange and finally ended with marginal declines due to lacking buying support, as most of the investors stayed on the sidelines. The LSE-25 index slightly declined by 3.92 points and was closed at 3097.08 against 3101.00 of Wednesday while transaction volume was considerably decreased to 0.918 million shares as compared to 2.230 million shares traded a day earlier.
The market was opened on a mixed note and kept on moving up and down throughout the day. Because of volatile situation that prevailed during the entire day's trading, the investors appeared to be more conscious and avoided taking fresh positions. The lacking investors' interest remained main reason of the sluggish trend.
The fertiliser sector's shares like Fauji Fertiliser, Fauji Fertiliser Bin Qasim and Fatima Fertiliser helped market recovery while Kot Addu Power, Bank Alfalah, Pervez Ahmed Securities and Byco Petroleum also performed well. However, the oil sector companies including, PPL, Pakistan Oil fields, Attock Refinery, PSO remained under pressure. Similarly, Engro Corporation, National Bank, MCB Bank, Bank of Punjab, Nishat Mills, Lotte Pakistan PTA, Fauji Cement and Nimir Industrial Chemical also ended with marginal declines. The losers were more than the gainers, as out of a total of 113 active issues, 11 companies posted gains, 26 recorded losses, while 76 companies stayed glued to their previous levels.
Fauji Fertiliser was improved by Rs 2.34, Kot Addu Power gained 35 paisa while Fauji Fertiliser Bin Qasim and Fatima Fertiliser were up by 27-paisa each. On the contrary, Service Industries lost Rs 9.00, Engro Corporation declined by Rs 4.90, PPL depreciated by Rs 1.94 while Pakistan Oil Fields was down by Rs 1.01. Byco Petroleum with trading of 224,025 shares topped the volume leaders followed by Lotte Pakistan PTA with 139,490 shares.
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