Bearish sentiments prevailed on the Lahore Stock Exchange (LSE) on Thursday where equities maintained downward slide and registered further declines amid selling pressure in blue chips due to lacking buying support. The LSE-25 index fell down by 55.29 points and was closed at 2911.39 points against 2966.68 points of Wednesday, while transaction volume was marginally increased to 1.632 million shares compared with day earlier volume of 1.517 million shares.
The market resumed trading on a negative sign and kept on staying in minus zone throughout the day. In the absence of investors' interest, the market witnessed sluggish trading activity. The blue chips companies including PSO, Pakistan Oil Fields, Attock Refinery, Dawood Hercules Chemical, Engro Corporation, Fatima Fertiliser, Fauji Fertiliser Bin Qasim, National Bank, Nishat Mills, Nishat Chunian, PIAC, Lotte Pakistan PTA and Arif Habib Corporation remained under selling pressure.
However, MCB Bank, Lucky Cement, Kot Addu Power, D.G. Khan Cement, Hub Power and Nimir Industrial Chemical resisted declines and were closed with marginal gains. The declining stocks were more than the advancing ones, as out of a total of 100 active companies, 7 posted gains, 32 landed in minus column, while values of 61 companies remained unchanged at their previous closing level.
MCB Bank gained Rs 2.73, Lucky Cement was appreciated by Rs 1.75, while Kot Addu Power was up by 40-paisa. However, PSO in minus zone was declined by Rs 7.00, Millat Tractors lost Rs 4.79, Pakistan Oil Fields was depreciated by Rs 3.62, while Dawood Hercules Chemical and Engro Corporation were down by Rs 2.47 and Rs 2.06, respectively. Silk Bank with trading of 347,731 shares topped the volume leaders, while NIB Bank with trading of 287,392 shares stayed as runner up.
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