Bearish sentiments prevailed on the Lahore Stock Exchange (LSE) on Monday where equities registered declines amid improved trading turnover due to selling pressure. The LSE-25 index lost 15.56 points and was closed at 3118.62 against 3134.18 of last Friday while transaction volume was increased to 2.421 million shares compared with previous volume of 1.890 million shares.
The market opened on a depressed note and stayed in negative zone throughout the day mainly because of lacking interest on the part of investors. They, however, preferred offloading to secure their positions. As a result, selling pressure was seen in Attock Refinery, PPL, PSO, Nishat Mills, Nishat Chunian, MCB Bank, NIB Bank, Nimir Industrial Chemical, Flying Cement, Wateen Telecom, Engro Corporation and Lotte Pakistan PTA.
However, fertiliser sector helped market avert more declines, as investors made fresh entries in Fauji Fertilizer, Fauji Fertilizer Bin Qasim, and Fatima Fertilizer. Pakistan Oil Fields, Habib Bank, Lucky Cement, Arif Habib Corporation, Hira Textile Mills, Kot Addu Power and Javed Omer Vorha and Company also posted marginal gains.
The losers were more than the gainers, as out of a total of 103 active issues, 12 companies registered gains, 37 posted losses while 54 companies stayed glued to their previous levels.
Fauji Fertiliser gained Rs 7.64, Pakistan Oil Fields was improved by Rs 4.66, Habib Bank was appreciated by Rs 1.76, while Lucky Cement was up by Rs 1.53.
On the contrary, PSO lost Rs 4.95, Attock Refinery was declined by Rs 3.57, Nishat Mills was depreciated by Rs 2.50 while PPL and MCB Bank were down by Rs 1.55 and Rs 1.19 respectively.
NIB Bank topped the volume leaders with trading of 475,552 shares while Nimir Industrial Chemical stayed as runner up with 324,175 shares.
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