Equities eroded values on Lahore Stock Exchange (LSE) on account of delay towards resolution of CoT and margin financing issue. The LSE-25 index shed 6.31 points closing at 3620.29 against 3626.60 of Monday, while transaction volume marginally improved to 20.743 million shares as compared to 14.979 million shares traded a day earlier.
The trading remained sluggish on account of lacking interest on the part of investors. Only OGDC and PTCL helped market resist more declines and closed upward, while PPL, PSO, Bank Alfalah, MCB and Bank of Punjab remained under pressure and finished in minus column.
The market resumed trading on depressed note and remained range-bound. However, buying in selective scrips like PTCL and OGDC provided little support to the market. It was really a dull trading day and investors kept them away from the buying course, which resulted in low turnover.
There was nothing bad on the economic front except CoT and margin financing issue, Ahmad Nabeel of Invest and Finance Securities said, while commenting on the market trend. The investors were of the view that resolution of the CoT and margin financing issue may take some time, he added.
Owing to prevailing circumstances, the index as well as transaction volume is shrinking day by day because the investors are not ready to make fresh deals. The investors want resolution of the margin financing issue as early as possible, he maintained.
Declining stocks were ahead of advancing ones, as out of a total of 79 active issues, 15 companies registered gains, 25 went down, while 39 stayed glued to its previous levels.
Trust Leasing appreciated its worth by Rs 1.25, ICI Pak improved by Rs 1.15, Adamjee Insurance gained Re 1.00, while OGDC and Pak Oil Field were up by Rs 0.65 and Rs 0.50, respectively. PPL lost Rs 4.50, PSO declined by Rs 2.40, United Bank Limited depreciated Rs 1.70, while Bank Alfalah and Fauji Fertiliser Company were down by Rs 1.50 and Rs 0.90, respectively.
PTCL was the market leader whose 7.750 million shares changed hands followed by OGDC with total trading of 3.094 million shares.
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