LSE loses 7 points

Friday, December 18, 2009
By our correspondent

LAHORE: The Lahore stock market remained in the negative zone on Thursday as the index fell by 7.61 points to close at 2,837.37.

Selling pressure persisted after the Supreme Court declared the National Reconciliation Ordinance (NRO) null and void. Only thin buying was seen at the start of trading.

Selling had started almost within half an hour of the morning trading session which continued till the close of market.

Investors remained reluctant to take fresh positions as the apex court had not given a detailed verdict in the NRO case.

Market experts said the investors would refrain from taking new positions rather they would go for clearing their positions due to the political imbroglio.

Overall, shares of 102 companies were traded, of which 25 rose, 40 fell and 37 remained unchanged. Total trading volume was 24.345 million shares with the Bank of Punjab remaining the volume leader with trading in 6.509 million shares.

MCB Bank, Packages, Mari Gas, Soneri Bank, Pak Elektron, BOP, Pace Pakistan, FFC, PPTA and Pervez Ahmed Securities were major gainers of the day.

Millat Tractors, Pak Oilfields, HBL, National Bank, Lucky Cement, Engro Chemical, Adamjee Insurance, United Bank, Askari Bank and Nishat Mills were the major losers.