Bearish sentiments dominated on the Lahore Stock Exchange on Monday and the equities registered declines across the board amid descending transaction volume due to lacking interest on the part of investors. The LSE-25 was declined to 3409.56 against 3539.08 of last Friday, denoting a fall of 129.52 points while trading turnover was restricted to 9.674 million shares as compared to previous volume of 16.445 million shares.
The market was opened on a negative note and kept on sliding throughout the day, mainly on account of lacking investors' interest who remained on the sideline. Most of the investors preferred to get out of the market to secure their position that resulted in selling pressure.
Wateen Telecom, WorldCall Telecom, Kohat Cement, Dewan Cement and Southern Electric Power resisted selling pressure while Pakistan Oil Fields, PPL, Engro Corporation, Fauji Fertilizer Bin Qasim, Fauji Fertilizer, Fatima Fertilizer, Nishat Mills, Habib Bank, National Bank, Bank of Punjab, NIB Bank, Silk Bank, Arif Habib Corporation, Lafarge Pakistan Cement, Maple Leaf Cement, Fauji Cement, Dewan Salman Fibre, Japan Power and Pervez Ahmed Securities remained under pressure.
The declining stocks were ahead of the advancing ones. Of 98 active issues, six companies posted gains, 45 stayed in negative zone while 47 companies were ended at their previous closing levels. Wateen Telecom gained 35-paisa, Kohat Cement was improved by 27-paisa while Dewan Cement and WorldCall were up by 25-paisa each.
Pakistan Oil Fields lost Rs 5.5, Engro Corporation was declined by Rs 5.27, Habib Bank was depreciated by Rs 5, Fauji Fertilizer Bin Qasim shed Rs 2.1 while Nishat Mills and National Bank were down by Rs 1.63 each. Lafarge Pakistan Cement with trading of 2.664 million shares topped the volume leaders followed by Bank of Punjab with 1.869 million shares.
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