Home »Stocks and Bonds » Pakistan » LSE-25 index sheds 57.39 points

Bearish sentiments prevailed on the Lahore Stock Exchange on Tuesday and the equities registered declines across the board under the lead of fertiliser and cement sectors. The LSE-25 index was declined to 4093.37 points against 4150.76 of Monday, denoting a fall of 57.39 points while transaction volume was squeezed to 3.258 million shares compared with 3.846 million shares traded a day earlier.

The market was opened on a mixed note but in the absence of investors' interest could not sustain. The market remained under pressure almost throughout the day, as investors adopted cautious approach and avoided taking positions. The fertiliser sector companies including Engro Corporation, Fauji Fertiliser, Dawood Hercules Corporation, Fauji Fertiliser Bin Qasim remained under selling pressure while cement shares like D.G. Khan Cement, Fauji Cement, Lafarge Pakistan Cement and Maple Leaf Cement registered losses. Similarly, PPL, Byco Petroleum, Sui Northern, Pakistan Reinsurance, Arif Habib Corporation and Pak Electron were also succumbed of profit taking. However, Pakistan Oil Fields, Attock Refinery, Habib Bank, Hira Textile Mills, Engro Foods, Engro Polymer and Chemical, PTCL, and Nishat Chunian resisted pressure and were closed in positive zone.

Pakistan Oil Fields gained Rs 3.42, Habib Bank was improved by Rs 1.06 while Hira Textile Mills and Attock Refinery were up by 99-paisa and 77-paisa, respectively. In the negative column, Engro Corporation lost Rs 2.99, PPL was declined by Rs 1.40, Sui Northern shed 85-paisa while Bolan Casting and Pakistan Reinsurance were down by 60-paisa each. Pace Pakistan topped the volume leaders with 1.030 million shares followed by Fauji Cement with 555,500 shares.

Copyright Business Recorder, 2012


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