Bears dominated the proceedings at the Lahore Stock Exchange (LSE) where equities showed negative signs amid surge in transaction volume on Monday. The LSE-25 index moved down to 2847.59 points against 2905.59 points of Friday, showing a decline of 58.00 points, while transaction volume increased to 01.906 million shares, as compared to previous volume of 01.649 million shares showing increment of 256.925 shares.
According to brokers, the levels of a few dividend oriented shares are still attractive and investment in such shares can yield positive results. The market is showing bearish trend as correction was due. SNGPL, Engro Polymer and Chemical, Lotte Pakistan PTA Limited, Honda Atlas Cars, Picic Growth Fund, Dewan Salman Fibre, Sazgar Engineering, SSGCL and Southern Electric Power resisted pressure and registered gains while Millat Tractors, Pak Oil Fields, PSO, Attock Refinery Limited, Engro Corporation Limited, FFC, MCB Bank, NBP and OGDC remained under pressure and closed in minus column.
The losers were much more than the gainers, as out of a total of 104 companies, only 9 showed strength and were closed in green zone, 35 suffered losses, while 60 companies stayed unchanged at their previous levels. Among the gainers, SNGPL gained Rs 10.60; Engro Polymer and Chemical was improved by Rs 10.54 while Lotte Pakistan PTA Limited, Honda Atlas Cars, Picic Growth Fund, Dewan Salman Fibre, Sazgar Engineering, SSGCL and Southern Electric Power were appreciated by Rs 10.37; Rs 10.30; Rs 10.15; Rs 10.14; Rs 10.09; Rs 10.07 and Rs 10.02, respectively.
Among the losers, Millat Tractors shed Rs 13.10, Pak Oil Fields was declined by Rs 9.05, and PSO lost Rs 6.30, while Attock Refinery Limited, Engro Corporation Limited, FFC, MCB Bank, NBP and OGDC were down by Rs 6.10, Rs 5.69, Rs 3.13, Rs 1.72, Rs 1.47 and Rs 1.45, respectively.
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