Equities on Friday maintained downward slide amid marginally increased trading turnover on the Lahore Stock Exchange (LSE) due to selling pressure in oil sector shares. The LSE-25 index was increased by 2.16 points and was ended at 2880.54 points against 2878.38 points of Thursday, while transaction volume was moved up to 858,723 shares, as compared to last day volume of 736,854 shares.
The market was opened on a depressed note and stayed in red zone during both the trading sessions. The investors adopted cautious approach and avoided taking positions ahead of weekend. MCB Bank, Habib Bank, National Bank, KASB Bank, Askari Bank from the banking sector supported the market sentiments, while Fauji Fertiliser, Engro Corporation, D.G. Khan Cement, Japan Power also attracted the investors.
On the contrary, the oil sector shares like Pakistan Oil Fields, OGDC, PPL, Attock Refinery remained under pressure. Similarly, Kot Addu Power, Wateen Telecom, Nishat Mills, Fatima Fertiliser, Bank of Punjab and Silk Bank also recorded losses. The declining stocks were more than the advancing ones. Of 90 active companies, 10 posted gains, 15 registered losses, while 65 companies remained unchanged at their previous closing. MCB Bank gained Rs 1.50, Engro Corporation was improved by Rs 1.25, while Habib Bank was appreciated by Rs 1.15.
In the minus column, Pakistan Oil Fields lost Rs 6.49, OGDC was declined by Rs 2.20, PPL was depreciated by Rs 2.01, while Attock Refinery was down by Rs 1.10. Bank of Punjab with trading of 227,949 shares topped the volume leaders followed by Fatima Fertiliser with 197,630 shares.
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