Equities on Tuesday moved both ways on the Lahore Stock Exchange and finally settled in negative zone amid improved trading turnover due to selling pressure. The LSE-25 index shed 17.37 points and was closed at 4140.15 against 4157.52 of Monday while transaction volume was increased to 6.544 million shares compared with 4.199 million shares traded a day earlier.
The market was opened on a healthy sign and kept on rising during early trading hours. However, sentiments could not remain intact and the investors started offloading of their holdings to secure their positions. Dawood Hercules Corporation, Engro Corporation, Fauji Fertilizer Bin Qasim, Adamjee Insurance, Maple Leaf Cement, D.G. Khan Cement, Lafarge Pakistan Cement, Fauji Cement, Dewan Cement, Hub Power and Nishat Mills witnessed fresh buying that helped market avert more declines.
However, Attock Refinery, PPL, PSO, Burshane LPG, National Bank, Sui Northern, Fauji Fertilizer, PIAC, PTCL and Lotte Pakistan PTA remained under pressure due to profit taking. The declining stocks were ahead of the advancing ones, as out of a total of 97 active issues, 20 companies posted gains, 24 registered losses while 53 companies stayed glued to their previous closing.
Kohat Cement gained Rs 2.43, Dawood Hercules Corporation was declined by Rs 1.00 while Adamjee Insurance and Maple Leaf Cement were up by 97-paisa and 92-paisa, respectively. Attock Refinery was declined by Rs 2.29, Burshane LPG lost Rs 1.45 while PPL and National Bank were down by 90-paisa and 44-paisa, respectively. Fauji Cement was the market leader whose 1.451 million shares changed hands followed by Bank of Punjab with 1.294 million shares.