Bearish sentiments prevailed on the Lahore Stock Exchange (LSE) and the equities registered declines amid ascending transaction volume on account of selling pressure due to profit taking. The LSE-25 index lost 16.08 points and was ended at 3661.20 points against 3677.28 points of Monday while trading turnover was improved to 5.481 million shares, as compared to 4.341 million shares traded a day earlier.
The market opened on a healthy sign but after showing an improvement of about 20 points, started declining. The market showed steep decline, as investors offloaded their holdings in PSO, Pak Oil Fields, OGDC, Engro Corporation, Habib Bank, Adamjee Insurance, Honda Atlas Cars and Pakistan Reinsurance. Besides, WorldCall Telecom, Bank of Punjab and Byco Petroleum also suffered losses.
However, buying support in PPL, Fauji Fertiliser, Nishat Mills, National Bank, Balochistan Glass, Nishat Chunian, Lotte Pakistan PTA, Bank Alfalah, and Nishat Mills helped market resist more declines.
The losers were more than the gainers, as of 128 active issues, 23 companies posted gains, 46 stayed in negative column, while 59 companies remained unchanged at their previous closing. Among gainers, Abbott Laboratories was improved by Rs 4.30, PPL gained Rs 2.32, Fauji Fertiliser was appreciated by Rs 1.53, while BOC Pakistan and Nishat Mills were up by Rs 1.15 and Rs 1.12, respectively.
In the minus column, Engro Corporation lost Rs 2.70, Habib Bank was declined by Rs 2.12, OGDC shed Rs 1.70, while MCB Bank and Adamjee Insurance were down by Rs 1.61 and Rs 1.59 respectively. National Bank topped the volume leaders with trading of 748,955 shares followed by Lotte Pakistan PTA with 686,161 shares.
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