Dull trading sentiments prevailed on the Lahore Stock Exchange (LSE) on Tuesday and the equities amid volatile situation ended in negative zone on account of lacking interest on the part of investors. The LSE-25 index lost 11.20 points and was closed at 3635.97 against 3647.17 on Monday while transaction volume was squeezed to 1.751 million shares as compared to 4.509 million shares traded a day earlier.
The market opened on a negative sign and sharply declined in the absence of buying support. Later the market kept on moving up and down throughout the day's trading. The market behaviour confused the investors who remained reluctant in taking position. As a result, the trading volume remained considerably low.
Because of selling pressure, PSO, Pakistan Oil Fields, Byco Petroleum, OGDC, Fauji Fertiliser, Adamjee Insurance, Allied Bank, United Bank, National Bank, Bank of Punjab, Nishat Mills and Arif Habib Corporation suffered losses. However, Attock Refinery, Engro Corporation, MCB Bank, Nimir Industrial Chemical and Fatima Fertiliser attracted the investors that helped market avert more declines.
The losers were more than the gainers, as out of a total of 106 active companies, 15 posted gains, 39 went down, while values of 52 companies stayed unchanged at their overnight closing levels. Among gainers, Attock Refinery was improved by Rs 2.01, Flying Cement gained 96-paisa, Dewan Salman was appreciated by 95-paisa while Engro Corporation and MCB Bank were up by 89-paisa and 74-paisa respectively.
Millat Tractors lost Rs 3.00, PSO was declined by Rs 2.34, Fauji Fertiliser shed Rs 1.18, while United Bank and Nishat Mills were down by 97-paisa and Rs 92-paisa respectively. Nimir Industrial Chemical topped the volume leaders with trading of 334,386 shares followed by National Bank with 238,417 shares.
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