Equities move both ways on LSE

LAHORE: Equities on Thursday moved both ways on the Lahore Stock Exchange (LSE) and finally ended on mixed note due to the investors' cautious approach that resulted in marginal decline in the trading turnover.

However, LSE-25 index lost 36.21 points and was closed at 2945.66 points against 2981.87 points of Wednesday, while transaction volume was squeezed to 1.139 million shares, as compared to 1.268 million shares traded a day earlier.

The market was opened on a depressed note but kept on moving up and down during the entire day's trading. The investors preferred offloading to pocket the available margin. As a result, Fauji Fertilizer, Engro Corporation, Fatima Fertilizer, Fauji Fertilizer Bin Qasim, OGDC, Pakistan Oil Fields, National Bank, United Bank, Nishat Mills and Lotte Pakistan PTA ended with losses.

However, following buying support, Attock Refinery, PPL, MCB Bank, Bank Al-Habib, Bank of Punjab, Askari Bank, D.G. Khan Cement, Arif Habib Corporation, Pace Pakistan and Pakistan Reinsurance registered gains.

The gainers and the losers were equal as out of a total of 101 active companies, 12 posted gains, 12 posted losses, while 77 companies remained unchanged at their previous closing.

Attock Refinery gained Rs 2.04, MCB Bank was improved by Rs 1.04, while D.G. Khan Cement and Arif Habib Corporation were up by 39-paisa and 30-paisa, respectively.

Fauji Fertilizer lost Rs 2.41, Engro Corporation was declined by Rs 1.72, OGDC was depreciated by Rs 1.65, while National Bank and Fatima Fertilizer were down by 83-paisa and 67-paisa, respectively.

Fauji Fertilizer topped the volume leaders with trading of 297,391 shares, while Bank of Punjab stayed as runner up with 151,098 shares.