Bearish sentiments continued on the Lahore Stock Exchange (LSE) on Thursday and equities maintained downward slide amid low trading activity because of lacking interest on the part of investors who remained on the sideline. The LSE-25 index lost 20.67 points to close at 3652.16 against 3672.83 of Wednesday while transaction volume further squeezed to 3.187 million shares as compared to last day volume of 3.804 million shares.
The market opened on a negative note and stayed in red zone in the absence of buying support throughout the day. The investors offloaded their positions in blue chips like Pakistan Oil fields, PPL, PSO from the oil sector and MCB Bank, National Bank, Bank of Punjab, Bank Alfalah and Silk Bank of the banking sector. Besides, Millat Tractors, Engro Corporation, Nishat Mills, Nishat Chunian, Adamjee Insurance, Fauji Fertiliser, Fauji Fertiliser Bin Qasim, D G Khan Cement, WorldCall Telecom and Lotte Pakistan PTA also suffered losses.
However, buying in Treet Corporation, Sui Southern, Habib Metropolitan helped market to prevent more losses. The losers were more than the gainers, as out of a total of 131 active issues, 20 companies registered gains, 44 posted losses while 67 companies stayed unchanged on day earlier closing levels.
Dawood Hercules Chemical gained Rs 9.02, Mari Gas was improved by Rs 5.90, National Foods was appreciated by Rs 2.81 while Habib Metropolitan Bank was up by Rs 1.32. Pakistan Oil Fields lost Rs 3.88, Millat Tractors was declined by Rs 2.95, MCB Bank was depreciated by Rs 2.93, while PPL and PSO were down by 2.59 and Rs 1.75 respectively. WorldCall Telecom with trading of 331,681 shares topped the volume leaders followed by Dewan Salman Fibre with 315,903 shares.
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