Equities on Wednesday remained depressed for the second consecutive day on the Lahore Stock Exchange (LSE) because of profit taking amid descending transaction volume. The LSE-25 index was increased by 11.63 points and was closed at 3672.83 against 3661.20 of Tuesday, while trading turnover was squeezed to 3.804 million shares, as compared to previous volume of 5.481 million shares.
The market opened on a positive sign but started moving down soon after resumption of trading. Later, the market remained range-bound and moved with in a range of 10 points throughout the day. As a result, PPL, Pakistan Oil Fields, Attock Refinery, Habib Bank, Bank of Punjab, Bank Alfalah, Askari Bank, United Bank, Fauji Fertiliser, Fauji Fertiliser Bin Qasim, Adamjee Insurance and NetSol Technologies remained under pressure and ended in negative zone.
However, last hour buying in Pakistan Refinery, PSO, OGDC, Engro Corporation, Treet Corporation, Millat Tractors, MCB Bank, National Bank and Nishat Chunian dragged the market into green zone that helped avert more declines.
The declining stocks were just ahead of advancing ones, as out of total of 138 traded companies, 29 appreciated their worth, 38 went down, while 71 companies stayed glued to their previous levels. Among gainers, Pakistan Refinery was improved by Rs 5.08, Engro Corporation was appreciated by Rs 3.73, PSO gained Rs 3.53, while Cherat Papersack and Treet Corporation were up by Rs 3.50 and Rs 2.85, respectively.
In the minus column, PPL lost Rs 3.10, United Bank was declined by Rs 1.52, Pakistan Oil Fields was depreciated by Rs 1.12, while Habib Bank and Fauji Fertiliser were declined by 97-paisa and 80-paisa, respectively. Lotte Pakistan PTA was the market leader whose 342,331 shares changed hands, while Dewan Salman Fibre with trading of 336,499 shares stayed as runner up.
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