Mixed sentiments prevailed on the Lahore Stock Exchange (LSE) on Wednesday where equities moved both ways and finally ended with declines amid descending transaction volume on account of lacking interest on the part of investors.
The LSE-20 index was marginally declined by 2.38 points and was closed at 3172.52 against 3174.90 of Tuesday while trading turnover was squeezed to 2.315 million shares as compared to last day volume of 3.707 million shares.
While continuing the day earlier sentiments, the market was opened on a healthy sign and registered upward slide. However, bullish sentiments could not remain intact, as investors started getting out of the market. Later the market showed up and downward moves while the investors adopted "buy on dip and sell on strength" policy to secure their positions.
Buying in PPL, OGDC, Arif Habib Corporation, Nishat Mills, D.G. Khan Cement, Adamjee Insurance, Engro Polymer and Chemical, and Lotte Pakistan PTA helped market avert more declines. However, Pakistan Oil Fields, PSO, Attock Refinery, Engro Corporation, Fauji Fertiliser, MCB Bank, National Bank and Lucky Cement remained under pressure.
The losers were more than the gainers, as out of a total of 116 active companies, 24 posted gains, 29 stayed in negative zone, while values of 63 companies remained unchanged at their previous levels.
PPL gained Rs 3.31, OGDC was improved by Rs 1.32, while Arif Habib Corporation and Allied Bank were appreciated by 91-paisa and 85-paisa respectively.
In the minus column, Pakistan Oil Fields lost Rs 5.00, Millat Tractors was declined by Rs 4.29, Service Industries was depreciated by Rs 2.66, while Engro Corporation and Fauji Fertiliser were down by Rs 2.04 and Rs 2.00 respectively.
Fatima Fertiliser was the market leader whose 248,098 shares changed hands followed by Bank of Punjab with 244,779 shares.
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