Bearish trend prevail at the LSE as the market loses 103.86 points

Bearish trend prevail at the LSE as the market loses 103.86 points

Lahore: (Wednesday, May 30, 2012) Contrary to the Karachi Stock Exchange that is observing a buying trend, the Lahore Stock Exchange experienced a bearish trend today as the market shed 103.86 points. Today, the LSE-25 index opened
at 3650.56 points, while at the end of the day, it could only close for 3546.70 points.

The overall buying trend at the market could not pick up either as in comparison to yesterday’s 3.252 million shares, today’s trading remained restricted to 1.952 million shares only. This depicted a net downward slide of 1.300
million shares. Out of the total 101 active scrips at the LSE, only 5 could move up, 57 remained unchanged while 39 could not keep from shedding value.

Among the major gainers that took benefit of the otherwise slow market, included Pakistan Petroleum Limited, Pakistan Refinery Limited and Hira Textile Mills Limited. The said gainers observed a respective increase in their price
by Rs 1.35, Rs 1.17 and Rs 0.64.

On the losing sides, there were some major market players including Muslim Commercial Bank Limited, Engro Corporation Limited and lucky Cement Limited. The respective decrease in the share price was Rs 5.03, Rs 4.98 and Rs 4.20.

The volume leaders of the day comprised of Fauji Cement Company Limited with a total business of 366,691 shares, Lafarge Pakistan Cement with 341,828 shares and The Bank of Punjab Limited with 253,039 shares.

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Posted by Fayyaz Yaseen on May 31 2012. Filed under Latest News, Pakistan. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry