Bearish sentiments dominated on the Lahore Stock Exchange (LSE) on Tuesday and the equities registered declines amid ascending transaction volume on account of selling pressure in oil and banking sectors' shares. The LSE-25 index further lost 14.42 points and closed at 2855.56 points against 2869.98 points of Monday, while trading turnover was increased to 1.531 million shares, as compared to 757,459 shares traded a day earlier.
The market was opened on a depressed note and stayed in negative zone almost throughout the day. Once the market showed sharp recovery but could not sustain and was succumbed of selling pressure that continued till the closing of trading.
PPL, OGDC, Attock Refinery, Pakistan Oil Fields of the oil sector and Allied Bank, National Bank, and Bank of Punjab of the banking sector remained under pressure. Similarly, Ferozsons Laboratories, Habib Sugar, D.G. Khan Cement, Fauji Cement Lotte Pakistan PTA and Fauji Fertiliser Bin Qasim also registered losses. However, MCB Bank, Engro Corporation, Fatima Fertiliser and Kot Addu Power resisted pressure and were closed in positive zone.
The declining stocks were ahead of the advancing ones, as out of a total of 93 active issues, 8 companies posted gains, 25 showed losses' while 60 companies stayed glued to their previous levels. Among gainers, MCB Bank was improved by 90-paisa, Engro Corporation gained 81-paisa, while Fatima Fertiliser was up by 30-paisa.
In the minus column, PPL lost Rs 5.09, OGDC was declined by Rs 4.15, Attock Refinery was depreciated by Rs 2.67, while Ferozsons Laboratories and Pakistan Oil Fields were down by Rs 2.42 and Rs 1.94, respectively. Lotte Pakistan PTA was the market leader whose 336,590 shares changed hands followed by Bank of Punjab with 326,730 shares.