Bearish sentiments dominated on the Lahore Stock Exchange (LSE) on Thursday and the equities registered declines across the board amid decreased trading turnover due to lacking buying support. The LSE-25 index lost 22.96 points and was closed at 2879.48 points against 2902.44 points of Wednesday, while transaction volume was declined to 736,854 shares, as compared to previous volume of 1.140 million shares.
The market was opened on negative note and sharply declined in the absence of buying support. However, once the market recovered its loss but could not sustain due to selling pressure, as investors kept on offloading of their holdings to secure their positions.
As a result, almost all the blue chips including OGDC, PPL, Attock Refinery, Engro Corporation, Fauji Fertiliser Bin Qasim, Fatima Fertiliser, MCB Bank, National Bank, Dawood Hercules Corporation, Arif Habib Corporation and D.G. Khan Cement registered losses. On the contrary, Fauji Fertiliser, Faysal Bank, Byco Petroleum, and Dewan Farooq Motors showed marginal gains.
The losers were more than the gainers. Of 93 active companies, 5 showed strength, 23 remained under pressure, while 65 companies were ended at their previous closing. Fauji Fertiliser gained 34-paisa, Faysal Bank was improved by 29-paisa, while Byco Petroleum was up by 25-paisa.
In the minus column, OGDC was declined by Rs 6.29, PPL lost Rs 2.75, Engro Corporation shed Rs 1.68, Attock Refinery was depreciated by Rs 1.65, while MCB Bank and Fauji Fertiliser Bin Qasim were down by Rs 1.49 and Rs 1.30, respectively. National Bank was the market leader whose 145,918 shares changed hands followed by Lotte Pakistan PTA with 107,876 shares.