Mixed sentiments prevailed on the Lahore Stock Exchange (LSE) on Friday where equities moved both ways and finally ended in negative zone amid descending transaction volume on account of lacking interest on the part of investors.
The LSE-25 index marginally declined by 6.69 points and was closed at 3473.39 against 3480.08 of Thursday, while trading turnover further decreased to 4.559 million shares, as compared to 6.708 million shares traded a day earlier.
The market opened on mixed note and remained range-bound during first trading session. No visible interest was seen on the part of investors who remained on the sideline. As soon as the second session, started, the market showed sharp gain but stayed in green zone for a short time. Attock Refinery, PPL, OGDC, Engro Polymer and Chemical, and Hub Power showed strength and helped market avert more declines.
The investors offloaded their holdings to secure their positions ahead of weekend. As a result, Pak Oil Fields, PSO, Engro Corporation, Adamjee Insurance, Nishat Mills, Lucky Cement, Pioneer Cement, D.G. Khan Cement, Ghraibwal Cement, Sui Northern and Bank of Punjab remained under pressure and closed in negative zone.
The losers were more than the gainers, as out of a total 122 traded companies, 23 posted gains, 33 landed in negative column, while values of 66 companies remained unchanged at their previous levels. Millat Tractors gained Rs 6.00, Attock Refinery was improved by Rs 1.18, while Genertech Pakistan and Royal Bank of Scotland were up by Re 1.00 each.
On the contrary, Pak Oil Fields was declined by Rs 2.80, PSO lost Rs 2.09, Engro Corporation was depreciated by Rs 1.27, while Sui Northern and Adamjee Insurance were down by Rs 1.09 and Re 1.00, respectively. Byco Petroleum with trading of 1.119 million shares topped the volume leaders while Lotte Pakistan PTA with 507,080 shares stayed as runner up.