Mixed sentiments prevailed on the Lahore Stock Exchange on Wednesday where equities moved both ways and finally stayed in green zone amid decreased trading turnover because of the investors' conscious approach. The LSE-25 index was further improved by 35.73 points and was closed at 3534.22 against 3498.49 of Tuesday while transaction volume was squeezed to 4.743 million shares as compared to last day volume of 8.088 million shares.
The market opened on a positive sign and sharply moved up by over 40 points but could not sustain due to selling pressure. As a result, the market was slide down to below the opening level. The fertiliser companies including Engro Corporation, Fauji Fertiliser and Fauji Fertiliser Bin Qasim remained under pressure while Allied Bank, Bank Al-Habib, NIB Bank, Bank of Punjab, Nishat Mills, and Arif Habib Corporation also suffered losses.
The market remained range-bound amid volatile situation for rest of the day. However, investors' interest in some blue chips like Pakistan Oil Fields, Attock Refinery, OGDC, PPL, National Bank, MCB Bank, Faysal Bank, Bank Alfalah, Askari Bank, Nishat Chunian, dragged the market into positive zone. Lotte Pakistan PTA, Fatima Fertiliser and Nimir Industrial Chemical also posted marginal gains.
The gainers were more than the losers, as out of a total of 102 active issues, 31 companies registered gains, 28 went down, while values of 43 companies stayed unchanged at their previous levels.
Pakistan Oil Fields was improved by Rs 12.30, Millat Tractors was appreciated by Rs 5.95, National Bank gained Rs 3.56, while Attock Refinery and OGDC were up by Rs 2.90 each. In the minus column, Dawood Hercules Chemical lost Rs 5.00, Bank Al-Habib was declined by 90-paisa, Allied Bank was depreciated by 65-paisa while Engro Corporation and Fauji Fertiliser were down by 48-paisa and 46-paisa respectively. Lotte Pakistan PTA continued to be the market leader with trading of 998,463 shares followed by NIB Bank with 866,095 shares.
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