Bears dominated the proceedings at the Lahore Stock Exchange (LSE) where equities showed negative signs amid slight surge in transaction volume on Thursday. The LSE-25 index moved down to 3674.13 points against 3731.62 points of Wednesday, showing a decline of 57.39 points, while transaction volume slightly increased to 09.289 million shares, as compared to previous volume of 09.168 million shares.
According to brokers, the equities suffered losses due to developments taking place after the decision of Supreme Court in a contempt of court case. The investors are not taking fresh positions, hence, the equities showed negative signs.
Fauji Fertiliser Bin Qasim, Engro Foods Limited, Treet Corporation Limited, Fauji Fertiliser Company, Nimir Industrial Chemical and Habib Bank Modarba resisted pressure and registered gains while Lucky Cement, MCB Bank, HBL Bank, PPL, Adamjee Insurance, Nishat Mill Limited, D.G. Khan Cement, UBL Bank, Attock Refinery Limited and NBP Bank remained under pressure and closed in minus column.
The losers were much more than the gainers, as out of a total of 92 companies, only 7 showed strength and were closed in green zone, 39 suffered losses, while 46 companies stayed unchanged at their previous levels. Among the gainers, Fauji Fertiliser Bin Qasim gained Rs 1.90; Engro Foods Limited was improved by Rs 1.18 while Treet Corporation Limited, Fauji Fertiliser Company, Nimir Industrial Chemical and Habib Bank Modarba were up by paisa-89, paisa-57, paisa-23 and paisa-03, respectively.
Among the losers, Lucky Cement shed Rs 6.93, MCB Bank was declined by Rs 5.55, HBL lost Rs 4.17, while PPL, Adamjee Insurance, Nishat Mill Limited, D.G. Khan Cement, UBL, Attock Refinery Limited and NBP were down by Rs 3.40, Rs 3.33, Rs 2.94, Rs 1.97, Rs 1.72, Rs 1.08 and Rs 1.03, respectively.