Equities on Tuesday moved both ways on the Lahore Stock Exchange and finally settled in negative zone amid marginally decreased trading turnover. However, the LSE-25 index was improved by 8.95 points to close at 4531.38 against 4522.41 of Monday, while transaction volume was marginally squeezed to 2.218 million shares, compared with last day volume of 2.302 million shares.
The market was opened on a healthy note and stayed in green zone during early trading hours. Later, volatility was seen in the market that witnessed up and downward moves and continued till close of trading. The investors' interest in most of the banking sector shares helped increase market index. As a result, United Bank, Samba Bank, National Bank, Askari Bank, MCB Bank and Bank of Punjab registered gains while Ferozsons Laboratories, Kohat Cement, Pakistan Reinsurance, and Dewan Farooq Motors also performed well. However, some bluechips like PSO, Attock Refinery, Nishat Chunian, Engro Corporation, Engro Foods, Fauji Fertiliser, Dawood Hercules Corporation, Hub Power, Pioneer Cement and NetSol Technologies remained under pressure due to profit taking.
The losers were more than the gainers. Of 95 active issues, 20 companies posted gains, 25 stayed in negative column while 50 companies remained unchanged. Ferozsons Laboratories gained Rs 5.55, and Kohat Cement was improved by Rs 2.21, while Pakistan Reinsurance and United Bank were up by Rs 1.26 and Rs 1.25, respectively. In the minus column, PSO lost Rs 9, and Attock Refinery was declined by Rs 2.98, while Nishat Chunian and Engro Corporation were depreciated by Rs 2.10 and Rs 2.08, respectively. Bank of Punjab was the market leader whose 600,500 shares changed hands followed by Lafarge Pakistan Cement with 372,000 shares.