Bearish sentiments continued to prevail on the Lahore Stock Exchange (LSE) on Friday where equities maintained downward slides and registered further declines amid selling pressure in blue chips. The LSE-25 index lost 28.24 points and was ended at 3150.14 points against 3178.38 points of Thursday, while transaction volume was marginally increased to 2.668 million shares, as compared to 2.034 million shares traded a day earlier.
While continuing the day earlier sentiments, the market was opened on a depressed note. Most of the investors preferred to get out of the market to secure their positions ahead of weekend. As a result, most of the blue chips like Engro Corporation, PPL, Byco Petroleum, Sui Northern, National Bank, Habib Bank, Bank of Punjab, Lucky Cement and Fauji Fertiliser and Dewan Salman Fibre remained under selling pressure and were ended in negative zone.
However, Fatima Fertiliser, Arif Habib Corporation, OGDC, Millat Tractors, and Adamjee Insurance resisted declines and closed in positive zone. The declining stocks were far ahead of advancing ones, as out of a total of 114 active issues, 13 companies posted gains, 39 stayed in minus column while 62 companies remained unchanged at their previous levels.
Millat Tractors gained Rs 8.87, PSO was appreciated by Rs 3.10, United Bank was improved by Rs 2.39, while OGDC and Sui Southern were up by Rs 1.20 and Rs 0.63, respectively. MCB Bank lost Rs 2.00, Engro Corporation was declined by Rs 1.79, PPL was depreciated by Rs 1.46, while Sui Northern was down by Rs 1.16. Silk Bank with trading of 1.277 million shares topped the volume leaders, while Bank of Punjab stayed as runner up with 459,710 shares.
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