Bearish sentiment dominated on Lahore Stock Exchange on Tuesday where equities depicted downward trend but last-hour buying helped the market recover amid fresh buying in select scrips. The LSE-25 index gained 13.86 points and closed at 3190.33 points against 3176.47 points of last Friday, while volume declined to 2.342 million shares as compared to 2.727 million shares.
The market opened on a healthy note and stayed in green zone during first trading hour. The sentiment could not sustain and dragged the index into negative zone as investors offloaded their holdings to secure their positions. As a result, Engro Corporation, Pakistan Oilfields, Nishat Mills, Kot Addu Power, Hub Power, Dawood Hercules Corporation, Adamjee Insurance, PTCL, Arif Habib Corporation and Lotte Pakistan PTA ended with losses. However, in last-hour buying MCB Bank, Habib Bank, Askari Bank, National Bank, Bank Alfalah, Bank of Punjab, PPL, OGDC, Lucky Cement, DG Khan Cement, Kohat Cement, Fauji Fertiliser and Fatima Fertiliser helped the market recover that ended on positive sign.
The gainers were slightly ahead of the losers. Of 96 active issues, 21 companies posted gains and 20 registered losses, while 55 companies remained unchanged. MCB Bank improved by Rs 3.73, PPL gained Rs 1.75, Lucky Cement was up by Rs 1.53 and OGDC gained Rs 1.19. Engro Corporation lost Rs 4.72, Nishat Mills declined by Rs .2.23, and Kot Addu Power depreciated by Rs 1.45. Fatima Fertiliser was the market leader whose 558,601 shares changed hands followed by Lotte Pakistan PTA with 257,960 shares.
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