Equities on Tuesday faced losses amid an improved trading turnover on the Lahore Stock Exchange following selling pressure in blue chips. The LSE-25 index lost 24.93 points to 5658.45 against 5683.38 of Monday while the transaction volume increased to 1.749 million shares compared with the day earlier volume of 1.573 million shares. The market began trading on a depressed note and remained in negative zone throughout the day since investors preferred offloading of their holdings to secure their positions.
That resulted in most of the blue chips being on the losing end. These companies were the Engro Corporation, MCB Bank, Habib Bank, United Bank, KASB Bank, Habib Bank, NIB Bank, Pakistan Refinery, OGDC, Adamjee Insurance, Fauji Cement, Dewan Cement and Pak Elektron.
Only a few companies such as the Engro Foods, Mughal Iron and Steel, Bank of Punjab, Faysal Bank, Byco Petroleum, Shabbir Tiles and Ceramics and PTCL resisted pressure and ended in a positive column. The declining stocks were ahead of the advancing ones though. Of 89 active issues, 9 companies gained, with 29 declining and 51 gluing to their previous closing. The Engro Foods gained Rs 2.10 while Mughal Iron and Steel was appreciated by Rs 1.09 and the Bank of Punjab and the Byco Petroleum were up by 41 and 38 paisas, respectively. The Engro Corporation lost Rs 5.60 while the MCB Bank shed Rs 3.00 and the Habib Bank and the Pakistan Refinery were down by Rs 2.63 and Rs 2.35, respectively. Yet, the Bank of Punjab topped the volume leaders with 827,000 shares followed by the KASB Bank with 422,000.
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