Equities on Tuesday failed to maintain bullish trend on the Lahore Stock Exchange and remained under pressure because of selling pressure on account of profit taking. The LSE-25 index was considerably moved down by 68.33 points and ended at 3579.04 against 3647.37 of Monday while transaction volume was improved to 3.922 million shares as compared to 3.640 million shares traded a day earlier.
The market opened on a depressed note and kept on declining due to lacking buying support during the early trading hours. However, after touching the day's low, the index showed upward move but could not sustain mainly because of the investors' conscious approach, as they remained reluctant in taking positions. As a result, market stayed in negative zone most of the time due to selling pressure in oil, fertiliser, and banking companies.
Pakistan Oil Fields, PSO, PPL, Attock Refinery, Millat Tractors, Engro Corporation, Fauji Fertiliser, Fauji Fertiliser Bin Qasim, Fatima Fertiliser, MCB Bank, Habib Bank, National Bank, Bank of Punjab, and Lotte Pakistan PTA suffered visible losses and ended in minus column.
However, Nishat Power, Lafarge Pakistan Cement, Bank Alfalah, Nimir Industrial Chemical, and Nimir Industrial Chemical resisted declines and stayed in green zone within marginal increase in their values. The losers were far ahead of gainers, as out of a total of 101 active companies, 11 posted gains, 42 landed in minus column, while 48 companies remained unchanged at their overnight closing.
ICI Pakistan gained Rs 3.33, Nishat Power was appreciated by Rs 1.00 while Flying Cement and Dewan Farooq Motors were up by 98-paisa and 45-paisa respectively. Pakistan Oil Fields lost Rs 10.01, Millat Tractors was declined by Rs 9.46, Engro Corporation was depreciated by Rs 6.87, MCB Bank shed Rs 6.69, while Dawood Hercules Chemical and PSO were down by Rs 5.21 and Rs 5.00 respectively. Nimir Industrial Chemical with trading of 782,504 shares topped the volume leaders followed by National Bank with 429,181 shares.
Comments
Comments are closed.