Bearish sentiments prevailed on the Lahore Stock Exchange and the equities registered declines amid selling pressure due to profit taking. The LSE-25 index lost 30.07 points and was closed at 3309.64 against 3339.71 of Tuesday, while transaction volume was squeezed to 7.95 million shares as compared to last day volume of 10.187 million shares.
The market was opened on a depressed note and kept on moving down throughout the day, as investors offloaded their holdings to pocket the available margin. As a result, Fauji Fertiliser, Engro Corporation, Arif Habib Corporation, MCB Bank, Bank of Punjab, NIB Bank, Pakistan Reinsurance, Attock Refinery, Nishat Mills, Engro Foods and Lafarge Pakistan Cement remained under pressure and were ended in minus zone.
However, following buying in banking sector's shares like Habib Bank, United Bank, Allied Bank, Askari Bank, Bank Alfalah, Soneri Bank, Faysal Bank and National Bank helped market avert more declines while OGDC, Engro Polymer and Chemical also performed well.
The losers were more than the gainers, as out of a total of 97 active companies, 20 posted gains, 26 stayed in negative column, while values of 51 companies remained unchanged at their previous closing. Habib Bank gained Rs 5.01, OGDC was improved by Rs 2.3, United Bank was appreciated by Rs 2.23, while PPL and Soneri Bank were up by Rs 1.83 and Rs 0.98 respectively.
In the minus column, Fauji Fertiliser lost Rs 1.72, MCB Bank was declined by Rs 1.62, Engro Foods shed Rs 1.43 while Adamjee Insurance and Engro Corporation were down by 90-paisa each. Bank of Punjab with trading of 2.849 million shares topped the volume leaders followed by Lafarge Pakistan Cement with 1.237 million shares.
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