Equities on Monday moved both the ways on the Lahore Stock Exchange and finally stayed in negative zone amid decreased trading turnover due to lacking interest on the part of investors. The LSE-25 index was declined by 7.07 points was closed at 3179.18 against 3186.25 of last Friday while transaction volume was restricted to 1.566 million shares as compared to previous volume of 1.958 million shares.
The market was opened on a healthy sign and kept on moving up till the mid day. However, sentiments could not remain intact and the market started sliding down due to selling pressure. The investors avoided taking positions due to volatile situation, as market showed up and downward moves throughout the day.
Buying in MCB Bank, Faysal Bank, Bank of Punjab, Fauji Fertilizer, Nishat Mills, NetSol Technologies, Summit Bank, Pakistan Reinsurance, Descon Chemicals and D.G. Khan Cement helped avert more declines. However, Engro Foods, Engro Corporation, Fauji Fertilizer Bin Qasim, Fatima Fertilizer, Allied Bank, National Bank, Allied Bank, Japan Power and Lotte Pakistan PTA, Lafarge Pakistan Cement and Maple Leaf Cement remained under pressure.
The declining stocks were ahead of the advancing ones, as out of a total of 92 active issues, 16 companies registered gains, 21 stayed in minus column, while 55 companies remained unchanged at their previous levels.
MCB Bank gained Rs 2.98, Fauji Fertilizer was improved by Rs 1.48 while NetSol Technologies and Nishat Mills were up by 97-paisa and 76-paisa respectively.
However, Engro Foods lost Rs 1.86, Allied Bank was declined by Rs 1.56, Engro Corporation was depreciated by 70-paisa while National Bank and Fauji Fertilizer Bin Qasim were down by 45-paisa and 44-paisa respectively.
Bank of Punjab with trading of 266,819 shares topped the volume leaders followed by Fauji Cement with 179,700 shares.