Equities on Tuesday remained under pressure on the Lahore Stock Exchange and ended in negative zone amid decreased trading turnover due to lack of interest on the part of investors. The LSE-25 index declined to 2678.78 against 2784.36 of Monday, denoting a fall of 105.58 points while transaction volume was squeezed to 1.563 million shares compared with 2.680 million shares.
The market opened on a healthy note but, after staying in positive zone for some time, started declining. The sentiment changed as soon as the investors started offloading of their holdings to avert more losses. As a result, PSO, PPL, Pakistan Oilfields, OGDC, Attock Refinery, MCB Bank, National Bank, and Bank of Punjab remained under selling pressure. Similarly, Engro Corp, Fauji Fertiliser, Fatima Fertiliser and Fauji Fertiliser Bin Qasim also ended with visible losses, while Millat Tractors, Nimir Industrial Chemical, Silk Bank, and Lotte Pakistan also failed to support market.
However, Pace Pakistan, Lafarge Pakistan Cement, and Orix Leasing Pakistan resisted pressure and were closed with marginal gains. The losers were far ahead of the gainers. Of 101 companies, 4 companies showed improvement and 46 registered declines, while values of 51 companies remained unchanged.
Dewan Cement gained 97 paisa, Orix Leasing improved by 9 paisa, and Pace Pakistan gained 5 paisa. Millat Tractors lost Rs 11.25, PSO declined by Rs 10.80, MCB Bank depreciated by Rs 8.73, PPL lost Rs 7.65, and Pakistan Oilfields was down by Rs 7.63. Bank of Punjab with trading of 345,768 shares topped the volume leaders, followed by Lotte Pakistan PTA with 248,750 shares.
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