AGL 40.00 Decreased By ▼ -0.01 (-0.02%)
AIRLINK 127.04 Decreased By ▼ -0.95 (-0.74%)
BOP 6.67 Increased By ▲ 0.07 (1.06%)
CNERGY 4.51 Decreased By ▼ -0.09 (-1.96%)
DCL 8.55 Increased By ▲ 0.07 (0.83%)
DFML 41.44 Decreased By ▼ -0.04 (-0.1%)
DGKC 86.85 Increased By ▲ 0.27 (0.31%)
FCCL 32.28 Increased By ▲ 0.14 (0.44%)
FFBL 64.80 Decreased By ▼ -0.62 (-0.95%)
FFL 10.25 No Change ▼ 0.00 (0%)
HUBC 109.57 Decreased By ▼ -0.92 (-0.83%)
HUMNL 14.68 Decreased By ▼ -0.07 (-0.47%)
KEL 5.05 Decreased By ▼ -0.08 (-1.56%)
KOSM 7.46 Increased By ▲ 0.34 (4.78%)
MLCF 41.38 Decreased By ▼ -0.27 (-0.65%)
NBP 60.41 Increased By ▲ 0.32 (0.53%)
OGDC 190.10 Decreased By ▼ -4.59 (-2.36%)
PAEL 27.83 Decreased By ▼ -0.12 (-0.43%)
PIBTL 7.83 Decreased By ▼ -0.17 (-2.13%)
PPL 150.06 Decreased By ▼ -1.11 (-0.73%)
PRL 26.88 No Change ▼ 0.00 (0%)
PTC 16.07 Increased By ▲ 0.07 (0.44%)
SEARL 86.00 Increased By ▲ 7.80 (9.97%)
TELE 7.71 Increased By ▲ 0.32 (4.33%)
TOMCL 35.41 Decreased By ▼ -0.26 (-0.73%)
TPLP 8.12 Increased By ▲ 0.21 (2.65%)
TREET 16.41 Increased By ▲ 0.52 (3.27%)
TRG 53.29 Increased By ▲ 0.53 (1%)
UNITY 26.16 Decreased By ▼ -0.39 (-1.47%)
WTL 1.26 Decreased By ▼ -0.01 (-0.79%)
BR100 9,884 Decreased By -36.4 (-0.37%)
BR30 30,600 Decreased By -151.5 (-0.49%)
KSE100 93,355 Increased By 130.9 (0.14%)
KSE30 28,931 Increased By 46 (0.16%)

Equities moved both ways on the Lahore Stock Exchange (LSE) and finally settled in a negative zone amid an ascending transaction volume on panic selling while small investors remained on the sidelines. The LSE-25 index fell down by 203.84 points to close at 4,845.77 against 5,049.61 of Friday while trading turnover increased to 51.733 million shares as compared to previously traded 46.485 million shares.
Javed Omer Vohra and Co, Arif Habib Securities, Adamjee Insurance, Attock Refinery, ICIC Pak and PSO closed in green zone while PPL, OGDC, United Bank, National Bank, Habib Bank, Askari Bank and Bank of Punjab remained under pressure.
The market opened on a positive sign but failed to sustain and started declining. However, on every dip, fresh buying provided support dragging the market into a green zone. The upward and downward trend continued throughout the day. Just before the closing of market, pressure was seen in OGDC that forced the market closure in negative zone. The investors were conscious and reluctant to take position due to uncertain sentiments.
The market remained directionless keeping investors away from the buying course. It was difficult to understand the reason generating the sluggish trend because the current political situation remained outside the business. The market kept moving all the days even in the hearing of important cases by the Supreme Court. The Karachi double bomb causalities coupled with a string of attempts on forces failed to restrict the market going up, said Mirza Muhammad Irfan of First Capital Equities.
He described the bearish move as a technical correction, saying the market needed more correction failing which the risk would be augmented. Another correction of 400-500 points would be in the interest of market future, he added. He said the foreign fund mangers were still focusing on the Pakistani market having more potential as compared to other markets. This is also evident from the increasing figure of special convertible rupee accounts because of foreign influx.
The declining stocks were ahead of advancing ones as out of a total of 132 active issues, 30 companies registered gains, 42 went down, while 60 stayed glued to their previous levels.
Among gainers, Attock Refinery improved by Rs 12.35, Adamjee Insurance gained Rs 11.30, ICI Pak moved up by Rs 10.05 while Pak Suzuki Motors and Javed Omer Vohra and Co were up by Rs 10.00 and Rs 8.90, respectively.

Copyright Business Recorder, 2007

Comments

Comments are closed.