Equities on Lahore Stock Exchange on Wednesday could not continue rising trend and registered losses due to lack in buying support, while selling pressure in blue chip stocks upset the market sentiment. The LSE-25 index lost 25.71 points to close at 2392.83 against 2418.54 of Tuesday.
While transaction volume marginally declined to 11.046 million shares compared with 11.179 million shares. DG Khan Cement, Nishat Mills, PSO, and Transmission Engineering resisted declines while Pak Oilfields, PPL, OGDC, Habib Bank, National Bank, Attock Refinery and Admajee Insurance remained under pressure and closed in red.
The market opened on a healthy note but could not sustain and started declining just after half an hour's trading. The investors avoided taking fresh positions. Rather they offloaded their holdings to pocket the available margin. As a result, selling pressure was seen in National Bank, Arif Habib Security, OGDC, and Pakistan Oilfields.
The advancing stocks were just ahead of declining ones, as out of a total of 109 active issues, 33 companies registered losses, 32 went down, while 44 stayed glued to their previous levels. Among gainers, Shell Pak gained Rs 6.50, Pak Suzuki improved by Rs 4.19, PSO appreciated by Rs 3.38 while Packages and Nishat Mills were up by Rs 2.13 and Rs 2.05 respectively.
On the contrary, Pakistan Refinery lost Rs 6.30, Pak Oilfields was declined by Rs 5.22, ICI Pakistan was depreciated by Rs 3.38, while MCB Bank and PPL were down by Rs 3.30 and Rs 2.03, respectively. D G Khan Cement was the market leader whose 2.738 million shares changed hands.