Mixed sentiments prevailed on the Lahore Stock Exchange (LSE) on Friday where equities moved both ways and finally ended in negative zone amid descending transaction volume on account of lacking interest on the part of investors.
However, because of buying in heavy weight shares, LSE-25 index gained 27.23 points and was ended at 3142.41 points against 3115.18 points of Thursday, while trading turnover was restricted to 1.666 million shares, as compared to last day volume of 2.386 million shares.
The market was opened on a negative sign and stayed in red zone during the first trading session. The investors adopted cautious approach and remained reluctant in taking positions ahead of weekend. However, the market witnessed buying in heavy weight scrips like OGDC, Attock Refinery, Fauji Fertiliser, Fatima Fertiliser, Arif Habib Corporation, Nishat Mills, D.G. Khan Cement, and FECTO Cement that helped index improvement.
However, profit taking was seen in the banking sector's shares like MCB Bank, National Bank, Allied Bank, while Fauji Fertiliser Bin Qasim, Engro Corporation, Javed Omer Vohra and Company, Byco Petroleum, and Lotte Pakistan PTA also succumbed of selling pressure. The declining stocks were ahead of the advancing ones, as out of a total of 98 active issues, 12 companies posted gains, 21 registered losses, while 65 companies stayed glued to their previous levels.
Among gainers, Fauji Fertiliser was improved by Rs 7.28, OGDC gained Rs 1.55, while Arif Habib Corporation and Fatima Fertiliser were up by 50-paisa and 45-paisa, respectively. In the minus column, MCB Bank was declined by Rs 2.20, Dawood Hercules Corporation lost Rs 1.22, while Lotte Pakistan PTA and Lucky Cement were depreciated by 84-paisa and 66-paisa, respectively. Lotte Pakistan PTA with trading of 388,500 shares changed hands followed by Fauji Fertiliser Bin Qasim with 257,220 shares.