LSE index down 27.31 points

Bearish sentiment dominated on the Lahore Stock Exchange on Monday where equities registered declines in the absence of buying support while most of investors remained on the sidelines. The LSE-25 index posted a decline of 27.31 points and closed at 3576.00 points against 3603.31 points of last Friday, while transaction volume increased to 4.327 million shares as compared to 2.610 million shares.
The market opened on a positive sign but could not sustain because of lack of buying support. The market showed slight recovery but could not maintain upward move as the investors kept on offloading their holdings to get out of the market at available rates.
MCB Bank, Bank Alfalah, United Bank, Habib Bank, Askari Bank, National Bank and Bank of Punjab suffered losses. PPL, OGDC, Engro Corporation, Nimir Industrial Chemical, Lotte Pakistan PTA and Nishat Mills also remained under pressure. However, Pakistan Oilfields, PTCL, Nishat Chunian, Fauji Fertiliser, Kot Addu Power, NetSol Technologies and Fatima Fertiliser remained attractive and marginally improved following the investors' interest.
The declining stocks were ahead of advancing ones, as of total 107 active issues, 16 companies recorded gains and 38 ended in negative zone, while 53 companies stayed glued to their previous levels. PSO improved by Rs 1.60, Pakistan Oilfields appreciated by Rs 1.22, SME Leasing gained Rs 1.05, and Treet Corporation was up by Rs 0.68. In the negative column, MCB Bank lost Rs 2.70, Millat Tractors declined by Rs 2.43, United Bank depreciated by Rs 2.38, Engro Corporation lost Rs 2.36 and PPL was down by Rs 1.68. Nimir Industrial Chemical was market leader whose 1.601 million shares changed hands, followed by Silk Bank with 1.061 million shares.