Mixed sentiment prevailed on the Lahore Stock Exchange on Thursday where equities moved both ways amid volatile situation and finally ended in negative zone because of lacking buying. The LSE-25 index gained 36.26 points and was closed at 3629.05 against 3592.79 of Wednesday while transaction volume was squeezed to 12.672 million shares as compared to 15.905 million shares traded a day earlier.
The market opened on a positive sign but stayed in green zone for a short time. Later, the market kept on moving up and down almost throughout the day that forced the investors to adopt "buy on dip and sell on strength" policy to avoid losses. However, because of the volatile situation, investors preferred profit taking in United Bank, Bank of Punjab, Engro Foods, Engro Corporation, Treet Corporation, Arif Habib Corporation, Genertech Pakistan, Pervez Ahmed Securities, PTCL, Fauji Cement, and WorldCall Telecom.
On the contrary, buying in heavy weight scrips including MCB Bank, Askari Bank, National Bank, Faysal Bank, Nishat Mills, Adamjee Insurance, Fauji Fertiliser, and Pace Pakistan helped index improvement while Japan Power and Lafarge Pakistan Cement also registered gains.
The losers were more than the gainers, as out of a total of 93 active issues, 18 companies stayed in positive zone, 30 registered losses while 45 companies were closed at their day earlier closing. MCB Bank was improved by Rs 4.66, Adamjee Insurance gained Rs 2.37, National Bank was appreciated by Rs 2.15, while Fauji Fertiliser and Japan Power were up by Rs 1.42 and Rs 1.00 respectively.
United Bank lost Rs 3.90, Attock Refinery declined by Rs 3.40, Engro Foods shed Rs 1.65 while Engro Corporation depreciated by Rs 1.14. Lafarge Pakistan Cement was the market leader whose 3.775 million shares changed hands followed by Bank of Punjab with 3.574 million shares.
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