Bearish sentiment dominated the Lahore Stock Exchange on Monday where equities registered declines across the board due to lack of investors' interest. The LSE-25 index declined by 37.50 points and closed at 3166.49 points against 3203.99 points of last Friday. Transaction volume was restricted to 1.423 million shares compared with 2.963 million shares.
The market opened on a depressed note and stayed in negative zone throughout the day. Investors stayed away from buying course which resulted in low trading. MCB Bank, National Bank, Bank Alfalah, Pakistan Oilfields, PPL, OGDC, Attock Refinery, Engro Corp, Fatima Fertiliser, and Fauji Fertiliser Bin Qasim remained under selling pressure. Similarly, Lucky Cement, Admajee Insurance, Nishat Mills and Japan Power also failed to sustain.
Hub Power, Sui Northern Gas, United Bank, Pakistan Reinsurance, Nimir Industrial Chemical, Samba Bank and Noon Sugar showed marginal gains and stayed in green zone. Losers were more than gainers, as out of a total of 112 active issues, 8 companies registered gains and 41 posted losses, while values of 63 companies remained unchanged.
Hub Power improved by 54 paisa and Noon Sugar gained 20 paisa, while Sui Northern and United Bank were up by 17 paisa and 11 paisa respectively. MCB Bank lost Rs 4.66 and Engro Corporation declined by Rs 2.73, while Pakistan Oilfields and PPL were down by Rs 2.00 and Rs 1.43 respectively. WorldCall Telecom with trading of 294,349 shares topped the volume leaders, followed by Japan Power with 185,000 shares.
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