Bears dominated the proceedings at the Lahore Stock Exchange (LSE) where equities registered losses amid descending transaction volume on Friday. The LSE-25 index lost 22.52 points and was closed at 3660.09 against 3682.61 points of Thursday, while transaction volume declined to 02.610 million shares, as compared to 03.873 million shares traded on Thursday.
The market that opened on a negative note remained in negative zone almost throughout the day. According to brokers, there was no let up in bearish trend, as the investors continued to offload their holdings to fetch the profit. They said the investors are not taking fresh positions and opting for short-term approaches. Dawood Hercules, FFC, HBL and Dewan Cement resisted pressure and registered gains. On the other hand, Pak Oil Fields, PSO, PPL, Adamjee Insurance and MCB remained under pressure and stayed in negative column.
The losers were more than the gainers, as out of a total of 94 companies, 17 posted gains, 33 registered losses, while values of 44 companies remained unchanged at their overnight closing levels. Dawood Hercules gained Rs 9.26; FFC was improved by Rs 1.57, while HBL and Dewan Cement were appreciated by Rs 1.19 and Rs 0.99. On the contrary, Pak Oil Fields lost Rs 3.72, PSO was depreciated by Rs 2.97, while PPL, Adamjee Insurance and MCB were down by Rs 2.80, 1.84 and Rs 1.20, respectively.
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