LSE Review: LSE falls 945 pts
LAHORE: The Lahore Stock Exchange 25-share index lost 945.62 points, or 2.29 percent, on week-on-week basis to close at 4,241.08 points last Friday compared to closing of 5,186.7 points recorded at the previous weekend.
The volume decreased by 97 million shares to 11 million shares compared to 108 million shares traded during the previous week.
The Lahore Stock Exchange continued its downward trend during the last trading week due to lack of confidence among the investors.
None of the leading scrips could perform well, particularly, the investors booked heavy losses in stocks of oil and gas sector, which had been leading buying rallies in the recent past.
Similar was the situation in the telecommunication sector where PTCL remained locked on lower limit for most part of the week. Some market players are of the view that the market might attract buying by some major players and institutions next week.
Analysts say the market has already taken the needed correction.
Majority of the analysts opined that the market recovery would take time and it would be slow and gradual.
They advised the investors to remain sidelined unless the index regains its strength.
They said the March future settlement caused the market to tumble and unless this issue is resolved to the satisfaction of all, the chances of index rebound are minimal. —Staff Report