Shares on Thursday moved both ways on the Lahore Stock Exchange and finally ended in a negative zone amid an ascending transaction volume because of selling pressure. The LSE-25 index lost 48.50 points to 6183.12 against 6231.62 of Wednesday while trading turnover increased to 8.441 million shares compared with the day earlier volume of 2.960 million shares.
The market resumed trading on a mixed note and remained range-bound during early trading hours. Later the market witnessed up and downward moves but finally ended in red zone, as investors preferred profit taking in Maple Leaf Cement, Fauji Cement, Dewan Cement, Fauji Fertiliser Bin Qasim, Ghani Automobile, Dewan Farooq Motors, Descon Chemicals, MCB Bank, Byco Petroleum and Pace Pakistan. The Pakistan Oil Fields, Attock Refinery, Fatima Fertiliser, Pakistan Reinsurance, Dewan Sugar Mills, Asakri Bank, Bank of Punjab, Lafarge Pakistan Cement and E-Electric resisted pressure. Of 83 firms, 10 gained and 23 lost but 50 others remained unchanged.
The Pakistan Oil Fields gained Rs 11.84 while Attock Refinery and Fatima Fertiliser were up by Rs 6.00 and Rs 1.03, respectively. The Maple Leaf Cement lost Rs 3.73, Fauji Cement shed Rs 1.50 while Fauji Fertiliser Bin Qasim and Ghani Automobile were down by Rs 1.05 and Re 1.00, respectively. The Silk Bank with trading of 7.009 million shares topped the volume leaders followed by Pace Pakistan with 356,500 shares.