Equities on Thursday moved both ways on the Lahore Stock Exchange and finally settled in negative zone amid descending transaction volume due to lacking investors' interest ahead of long weekend on account of Juma tul Wida and Eid holidays.
The LSE-25 index lost 63.13 points and was slide down to 3823.44 against 3886.57 of Wednesday while trading turnover was squeezed to 3.117 million shares as compared to last day volume of 4.389 million shares. The market was opened on a depressed note but sharply recovered due to fresh entries in bluechips.
However, later the market kept on moving up and down throughout the day that discouraged the investors to take positions. Besides, the investors preferred to offload their holdings ahead of long weekend, as market would remain closed for six-day on account of Juma tul Wida and Eid holidays.
Treet Corporation, Nishat Mills, Lafarge Pakistan Cement, Lucky Cement, PTCL, Bank Al-Habib, Samba Bank, Askari Bank and Hub Power were ended in positive zone with marginal gains while due to selling pressure, Engro Corporation, Fauji Fertiliser Bin Qasim, Fatima Fertiliser, PPL, Byco Petroleum, National Bank, Soneri Bank, Bank of Punjab, D.G. Khan Cement, Fauji Cement, Maple Leaf Cement, Pakistan Reinsurance and KESC suffered losses.
The losers were more than the gainers. Of 73 active issues, 10 companies registered gains, 25 stayed in negative column while 38 companies were ended at their day earlier closing. Treet Corporation gained Rs 2.85, Nishat Mills was improved by 37-paisa while Lafarge Pakistan Cement and Hub Power were up by 27-paisa and 25-paisa, respectively.
Engro Corporation lost Rs 1.56, PPL was declined by Rs 1.45, National Bank shed 66-paisa while KESC and Fauji Fertiliser Bin Qasim were down by 41-paisa and 37-paisa respectively. Lafarge Pakistan Cement was the market leader whose 1.793 million shares changed hands followed by Fauji Cement with 655,500 shares.