Mixed sentiments prevailed on the Lahore Stock Exchange (LSE) on Friday where equities moved both the ways and finally ended in negative zone amid descending transaction volume on account of lacking interest on the part of investors. The LSE-25 index lost 11.73 points and was ended at 3236.56 points against 3248.29 points of Thursday, while trading turnover was squeezed to 1.922 million shares, as compared to last day volume of 2.573 million shares.
The market opened on a depressed note and failed to sustain during the first trading session mainly because of selling pressure in banking and oil sectors' shares including MCB Bank, National Bank, Bank of Punjab, OGDC, PSO, Attock Refinery, PPL and Byco Petroleum. NetSol Technologies and Dawood Hercules Chemical also failed to resist pressure.
As soon as trading commenced in the second session, the market started improving and showed gain of over 50 points following buying interest in Habib Bank, United Bank, Fauji Fertiliser, Engro Corporation, Fauji Fertiliser Bin Qasim, Lotte Pakistan PTA and First Capital Equities. However, bullish sentiment could not remain intact, as the investors preferred to get out of the market ahead of weekend to secure their positions that dragged the market into negative zone.
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