Bearish sentiments dominated on the Lahore Stock Exchange on Thursday and the equities suffered losses due to profit-taking amid decreased trading turnover. The LSE-25 index lost 62.11 points and was closed at 4893.40 against 4955.51 of Wednesday, while transaction volume was squeezed to 2.071 million shares, compared with day earlier volume of 2.850 million shares.
The market was opened on a healthy sign and stayed in green zone during first trading hour. However, sentiments could not remain intact, as investors started offloading of their holdings to pocket the available margin. As a result, Engro Corporation, Crescent Steel and Allied, Engro Foods, National Bank, Faysal Bank, Pioneer Cement, PTCL, Maple Leaf Cement, Fauji Cement and Byco Petroleum remained under selling pressure. However, Shell Pakistan, PPL, PSO, Nishat Mills, JK Spinning Mills, Habib Bank, MCB Bank, Centaury Paper and Board Mills, NetSol Technologies, and Fauji Fertiliser Bin Qasim resisted pressure and were closed in positive zone.
The losers were more than the gainers. Of 109 active companies, 27 posted gains, 32 registered declines while 50 companies remained unchanged at their previous closing. Shell Pakistan gained Rs 6.65, Nishat Mills was appreciated by Rs 3.14, Habib Bank was improved by Rs 3.07, while MCB Bank and PPL were up by Rs 2.01 each. Engro Corporation lost Rs 3.70, Crescent Steel and Allied was declined by Rs 1.53, while Engro Foods and National Bank were down by Rs 1.50 and Rs 1.39, respectively. Bank of Punjab was the market leader whose 351,500 shares changed hands followed by Lafarge Pakistan Cement with 219,500 shares.
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