Bears dominated the proceedings at the Lahore Stock Exchange (LSE) where equities registered more losses amid descending transaction volume on Friday. The LSE-25 index further lost 46.39 points and was closed at 3107.27 against 3153.66 of Thursday while transaction volume declined to 05.852 million shares as compared to 06.538 million shares traded yesterday.
The market that opened on a negative note remained in negative zone almost throughout the day. According to brokers, there was no let up in bearish trend, as the investors continued to offload their holdings to fetch the profit. They said the investors are not taking fresh positions and opting for short-term approaches.
Attock Refinery, PSO, Pak Oil Fields, FFC, Engro Corporation, HBL, UBL, PPL and Nishat Mills remained under selling pressure and stayed in negative column. On the other hand, Arif Habib Securities, Faysal Bank, Pioneer Cement, Ravi Textiles, Dadabhoy cement resisted pressure and registered gains.
The losers were more than the gainers, as out of a total of 100 companies, 17 posted gains, 45 registered losses while values of 38 companies remained unchanged at their overnight closing levels. Arif Habib Securities gained Rs 1.14; Faysal Bank was improved by Re 1.00, while Ravi Textiles Mills, Dadabhoy Cement, Frontier Ceramics and SNGPL were appreciated by Rs 0.99, Rs 0.59, Rs 0.50 and Rs 0.10, respectively.
On the contrary, PSO lost Rs 6.92, Pak Oil Fields was depreciated by Rs 4.60, while FFC, Attock Refinery, Engro Corporation, HBL, UBL, PPL and Oil & Gas Development Corporation were down by Rs 2.69, 2.44, 2.39, 2.32, 2.08, 2.03, and Rs 1.99, respectively.
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