Shares on Tuesday swung to and fro on the Lahore Stock Exchange and finally settled in negative zone amid a sluggish trading trend. The LSE-25 index further declined by 8.53 points to close at 5595.89 against 5604.42 of Monday while the transaction volume squeezed to 490,200 shares compared with the day earlier volume of 872,600 shares.
The market resumed trading on a depressed note and remained volatile during the day's trading but later ended in negative zone following selling pressure in bluechips and ready board shares including the Engro Corporation, Pakistan Oil Fields, PPL, Byco Petroleum, Treet Corporation, Engro Fertiliser, Fauji Fertiliser Bin Qasim, United Bank, Bank of Punjab, Lafarge Pakistan Cement, Pioneer Cement, Maple Leaf Cement, Fauji Cement, Gul Ahmed Textile Mills, and Southern Electric Power.
Only few companies like the Ferozesons Laboratories, Glaxo Smith Kline, Pakistan Refinery, K-Electric, PIA, Lotte Chemical Pakistan and National Bank resisted pressure and ended in green zone. The advancing stocks were ahead of the declining ones and of 73 active issues, seven companies gained, 24 lost while 42 stayed glued to their overnight closing.
The Ferozsons Laboratories gained Rs 4.66, Pakistan Refinery was appreciated by Rs 3.14 while Glaxo Smith Kline was up by 50-paisa. In the minus column, the Engro Corporation lost Rs 9.00. The Pakistan Oil Fields declined by Rs 7.00 while the Treet Corporation, PPL and Engro Fertiliser were down by Rs 3.71, Rs 3.01 and Rs 2.73. The Bank of Punjab was the market leader whose 140,500 shares changed hands followed by the Southern Electric Power with 100,000 shares.
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