Depressed sentiments dominated on the Lahore Stock Exchange (LSE) on Thursday and the equities recorded losses amid dwindling trading turnover due to lacking buying support while most of the investors remained on the sidelines. The LSE-25 index declined by 36.57 points to end at 2095.15 against 2131.72 of Wednesday while transaction volume squeezed to 15.577 million shares as compared to 23.941 million shares traded a day earlier.
Bank of Punjab, Bosicor Pakistan, Fauji Fertiliser, PSO, Nishat Mills posted gains while MCB Bank, Arif Habib Securities, National Bank, NIB Bank, Attock Refinery and Pak Oil Fields remained under pressure and closed in red zone. The market opened on a healthy sign and crossed the level of 2140 just in less than half-hour. However, the sentiments could not sustain that dragged the market into negative zone.
The market after mid day, showed steep decline that pushed the index by over 60 points in an hour. As soon as the index slide down to 2077, the market started recovering following fresh buying in selective scrips. The market pundits were of the view that the market may present mixed trend in next couple of days, which eventually would stay bullish following strong fundamentals.
The losers were more than the gainers as 16 companies out of a total of 111 posted gains, 51 landed in negative column, while Packages Limited was improved by Rs 3.60, PSO gained Rs 2.18, Engro Chemical and Trust Investment Bank were up by Rs 1.18 and Re 1.00, respectively.
In the negative column, MCB Bank lost Rs 7.00, Attock Refinery was declined by Rs 6.44, Services Industries shed Rs 4.85 while Engro Chemical and Pak Oil Fields were down by Rs 3.57 and Rs 2.90, respectively. Bosicor Pakistan with 3.149 million shares, topped the volume leaders followed by Bank of Punjab with 2.425 million shares.
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