Bearish sentiments dominated on the Lahore Stock Exchange (LSE) and the equities registered declines amid descending transaction volume on account of lacking interest on the part of investors. The LSE-25 index lost 22.68 points and was closed at 3189.59 against 3212.27 of Wednesday while transaction volume was restricted to 1.661 million shares as compared to last day volume of 4.69 million shares.
The market was opened on a depressed note and kept on sliding throughout the day. The investors avoided taking position that resulted in low trading activity. Most of the investors preferred offloaded to pocket the available margin.
As a result, Engro Corporation, Fauji Fertilizer Bin Qasim, Fatima Fertilizer, PPL, PSO, Attock Refinery, Pakistan Reinsurance, Nishat Mills, Askari Bank, Nishat Chunian, Arif Habib Corporation, Bank of Punjab, National Bank, and Bank Alfalah stayed in minus column due to profit taking. However, United Bank, MCB Bank, Fauji Fertilizer, Sui Northern, D G Khan Cement, Cherat Cement, Fauji Cement, Engro Polymer and Chemical resisted pressure and ended with marginal gains. The losers were more than the gainers, as out of a total of 115 active issues, 15 companies posted gains, 26 went down, while 74 companies remained unchanged at their previous closing.
Engro Corporation gained Rs 1.53; United Bank was improved by Rs 1.22, while MCB Bank and Fauji Fertilizer were up by 99-paisa and 59-paisa respectively. Engro Corporation lost Rs 4.05, PPL was declined by Rs 1.48, PSO shed Rs 1.01 while Attock Refinery was down by 95-paisa. Fauji Cement with trading of 566,579 shares changed hands followed by Lafarge Pakistan Cement with 174,030 shares.
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