Equities on Wednesday could not get out of pressure on the Lahore Stock Exchange (LSE) and registered further losses amid bearish sentiments due to lacking buying support. The LSE index was declined by 19.26 points and was closed at 3696.22 against 3715.48 points of Tuesday, while transaction volume was squeezed to 3.410 million shares, as compared to last day volume of 4.329 million shares.
The market opened on a positive sign but could stay in green zone for less than hour's trading. In the absence of buying interest, the market started declining, as investors kept on offloading of their holdings. As a result, Attock Refinery, PSO, Pakistan Oil Fields, PPL, Adamjee Insurance, Arif Habib Corporation, Hub Power, NetSol Technologies, Fauji Fertiliser Bin Qasim, Bank of Punjab, Askari Bank suffered losses and closed in negative zone.
However, just ahead of closing of trading, buying activity was seen in some selective scrips including Habib Bank, National Bank, United Bank, Fauji Fertiliser, Fatima Fertiliser, Nishat Power, Nishat Chunian, Nishat Mills, Sui Southern and Lotte Pakistan PTA that helped index avert more decline.
The losers were ahead of gainers, as out of a total of 117 active issues, 16 companies posted gains, 38 landed in negative column, while 63 companies remained unchanged at their previous levels. Among gainers, Habib Bank was improved by Rs 2.87, Fauji Fertiliser gained Rs 1.02 Nishat Mills was appreciated by 66-paisa, while OGDC and Fatima Fertiliser were up by 45-paisa each.
National Refinery lost Rs 15.29, Attock Refinery was declined by Rs 6.38, PSO was depreciated by Rs 3.92, while Adamjee Insurance and Pakistan Oil Fields were down by Rs 2.60 and Rs 2.20, respectively. Lotte Pakistan PTA was the market leader whose 720,600 shares changed hands followed by Bank of Punjab with 455,581 shares.
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