Bearish sentiment prevailed at Lahore Stock Exchange on Monday where equities registered declines amid marginally decreased and descending transaction volume on account of lack of interest on the part of investors. The LSE-25 index lost 23.07 points and closed at 2628.39 points against 2651.46 points of last Friday, while turnover reduced to 1.059 million shares as compared to 1.685 million shares.
The market opened on a positive sign but could not sustain. As soon as market commenced trading, it started declining in the absence of buying support. Pakistan Oilfields, Nishat Mills, Sazgar Engineering Works, Fauji Fertiliser Bin Qasim, Fatima Fertiliser, PTCL and Thal resisted selling pressure and ended in green zone. However, MCB Bank, Engro Corporation, National Bank, Attock Refinery, PSO, Millat Tractors, Engro Foods, Pakistan Reinsurance, D G Khan Cement, and Pakgen Power ended in minus column.
The losers were more than gainers, as out of a total of 87 active issues, 11 companies registered gains and 22 posted losses, while values of 54 companies remained unchanged. Pakistan Oilfields gained Rs 7.00, Nishat Mills appreciated by Rs 2.10, Thal up by Rs 1.64 and Sazgar Engineering Works gained Rs 1.12.
MCB Bank lost Rs 7.71, Engro Corporation declined by Rs 2.13, National Bank shed Rs 1.91, Attock Refinery was down by Rs 1.70 and Millat Tractors lost Rs 1.05. Lotte Pakistan PTA with trading of 190,350 shares topped the volume leaders, while NIB Bank stayed as runner-up with 182,845 shares.
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