Mixed trend was witnessed on the Lahore Stock Exchange on Friday and the equities moved up and down and finally stayed in red zone on account of profit taking. The LSE-25 index lost 17.26 points and finished on the weekend at 2160.60 against 2177.86 of Thursday while transaction volume marginally increased to 16.872 million shares as compared to last day volume of 16.489 million shares.
The market opened on a healthy sign but took downward move soon after. Later, the market remained under fluctuation during the first session while it vertically declined during the second session. According to analysts, there was no change in the sentiment and the equities slid down because of profit taking as investors, particularly the speculators, offloaded their holdings to secure their positions.
The declining stocks were ahead of advancing ones as out of 110 transacted companies, 22 showed strength, 38 landed in minus column, while values of 50 companies closed without any change at their previous levels. Mari Gas improved by Rs 7.46, ICI Pakistan gained Rs 6.29, Indus Motors appreciated by Rs 6.02 while EFU General Insurance and Adamjee Insurance were up by Rs 5.00 and Rs 4.02 respectively.
In the minus column, Engro Chemical lost Rs 3.55, Pakistan Oilfields declined by Rs 3.16, United Bank depreciated by Rs 1.24 while Fauji Fertiliser Company was down by Rs 1.09. Arif Habib Securities was the market leader whose 2.704 million shares changed hands.
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