Bearish sentiments prevailed on the Lahore Stock Exchange (LSE) on Friday and the equities registered declines under the lead of fertiliser and banking sectors amid improved trading turnover. The LSE-30 index lost 37.86 points and was ended at 2795.59 points against 2833.45 points of Thursday, while transaction volume was increased to 1.236 million shares, as compared to 1.047 million shares traded a day earlier.
The market was opened on a depressed note and stayed in negative zone during the entire day's trading. The investors preferred to get out of the market at available rates ahead of weekend that resulted in selling pressure in blue chips. Engro Corporation, Fauji Fertiliser Bin Qasim, Fauji Fertiliser, Fatima Fertiliser, PSO, PPL, MCB Bank, Habib Bank, National Bank and Bank of Punjab posted losses. Habib Sugar Mills, Dawood Hercules and Byco Petroleum also stayed in negative zone.
Adamjee Insurance, PTCL, Sui Northern, Pakistan Reinsurance, Soneri Bank, Pervez Ahmed Securities, Hub Power, Summit Bank, Bank Al-Habib and Lotte Pakistan PTA were ended with marginal gains. The losers were more than the gainers. Of 90 active issues 16 companies registered gains, 21 recorded losses, while 53 companies were closed at their previous closing levels.
Adamjee Insurance was improved by 59-paisa, PTCL gained 42-paisa, while Sui Northern and Pakistan Reinsurance were up by 19-paisa each. Engro Corporation was declined by Rs 4.80, PSO lost Rs 4.41, MCB Bank was depreciated by Rs 3.02, while Fauji Fertiliser Bin Qasim and Fauji Fertiliser were down by Rs 1.94 and Rs 1.57, respectively. Bank of Punjab with trading of 287,008 shares topped the volume leaders followed by NIB Bank with 236,751 shares.
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