LSE index down 80.24 points

Bearish sentiments prevailed at the Lahore Stock Exchange where losers outclassed gainers amid a descending transaction volume on Monday. The LSE-25 index fell to 5507.78 points against 5588.02 points of Friday, showing a decline of 80.24 points, while transaction volume too declined to 829,200 shares, as compared to previous volume of 943,500 shares. Brokers said investors were staying away from taking fresh position, resulting in bearish sentiments. Some of the investors are awaiting positive news to enter into the market with fresh spirit.
The Service Industries Limited, Ferozsons Laboratories Limited, Hascol Petroleum Limited, Pak Elektron Limited, Byco Petroleum Limited, Fauji Cement Company Limited, Pervez Ahmed Securities Limited, Shakarganj Limited, Dewan Salman Fibre Limited resisted pressure and closed in positive column while Fauji Fertiliser Bin Qasim Limited, Adamjee Insurance Company Limited, Askari Bank Limited, Dewan Cement Limited, Dewan Farooq Motors Limited, SNGPL, Japan Power Generation Limited, Pace Pakistan Limited, Southern Electric Power Company and Silkbank Limited suffered losses and closed in minus column.
The losers were much ahead with the gainers, as out of a total of 67 companies, only five showed strength and were closed in green zone, 14 suffered losses, while 48 companies stayed unchanged at their previous levels. The gainers were the Service Industries Limited gained Rs 14.88, Ferozsons Laboratories Limited was appreciated Rs 12.82 and Hascol Petroleum Limited was up by Rs 5.07 while Pak Elektron Limited, Byco Petroleum Limited, Fauji Cement Company Limited, Pervez Ahmed Securities Limited, Shakarganj Limited, Dewan Salman Fibre Limited were up by Rs 1.13, 56 paisa, 10, 6, 4 and 3, respectively.
The Fauji Fertiliser Bin Qasim Limited shed Rs 1.60, Adamjee Insurance Company Limited was declined by Rs 1.37, Askari Bank Limited lost paisa-36, while Dewan Cement Limited, Dewan Farooq Motors Limited, SNGPL, Japan Power Generation Limited, Pace Pakistan Limited, Southern Electric Power Company and Silkbank Limited shed paisa-36, paisa-31, paisa-25, paisa-23, paisa-21, paisa-13 and paisa-07, respectively. The volume leader of the day included Shakarganj Limited with 401,000 shares, Pakcem Limited with 168,500 shares and Southern Electric Power Company with 50,000 shares.