Bearish sentiments continued to prevail for the third consecutive day on the Lahore Stock Exchange (LSE) and the equities registered declines amid marginally improved trading turnover. The LSE-25 index lost 10.94 points and closed at 2804.51 points against 2815.45 points of Tuesday, while transaction volume was increased to 987,616 shares, as compared to the day earlier volume of 439,236 shares.
The market was opened on a healthy sign but could not sustain due to lacking buying support. After staying in positive zone, the market started sliding, as investors preferred getting out of the market at the available rates. As a result, selling pressure was seen in fertiliser sector's companies like Fauji Fertiliser, Fauji Fertiliser Bin Qasim, Fatima Fertiliser and Engro Corporation. Bank Alfalah, Arif Haib Corporation, Sui Northern, Byco Petroleum and Tri-Pack Films also registered losses.
However, Attock Refinery, OGDC, Dawood Hercules Corporation, Hira Textile Mills, National Bank, Bank of Punjab, Pakistan Reinsurance and Engro Polymer and Chemical resisted pressure and posted marginal gains. The gainers were more than the losers. Of 91 active companies, 11 showed strength, 15 remained weak, while 65 stayed unchanged at their previous closing.
Dawood Hercules Chemical gained Rs 1.51, Attock Refinery was improved by 71-paisa, while National Bank and OGDC were up by 37-paisa each. Tri-Pack Films lost Rs 4.83, Fauji Fertiliser was declined by Rs 1.47, Habib Sugar Mills was depreciated by Rs 1.16, while Engro Corporation and Fauji Fertiliser Bin Qasim were down by 91-paisa and 65-paisa, respectively. Bank of Punjab topped the volume leaders with 431,412 shares followed by NIB Bank with 140,954 shares.