Equities suffered losses at the Lahore Stock Exchange (LSE) amid descending transaction volume on Monday. The LSE-25 index moved down to 3637.92 points against 3663.52 points of Friday, showing a decline of 25.6 points, while transaction volume significantly declined to 04.766 million shares, as compared to previous volume of 07.885 million shares.
According to brokers, the investors are not taking fresh positions after the recent political developments in the country. In the absence of any positive news on political and economic fronts, the market is moving downward. However, they claimed that levels of a few dividend oriented shares are attractive and investment in such shares can yield positive results.
Engro Foods Limited, Fauji Fertiliser Bin Qasim, Engro Corporation Limited, Fatima Fertiliser Company, Summit Bank, Askari Bank, Pakgen Power Limited, Nishat Mills limited, Pace Pakistan and Pak Elektron Limited resisted pressure and registered gains while PPL, Adamjee Insurance, MCB Bank, NBP, OGDC, Fauji Fertiliser Company, Attock Refinery Limited, Faysal Bank, Hira Textile Mills and Engro Polymer & Chemical remained under pressure and closed in minus column.
The losers were more than the gainers, as out of a total of 95 companies, 19 showed strength and were closed in green zone, 25 suffered losses, while 51 companies stayed unchanged at their previous levels. Among the gainers, Engro Foods Limited gained Rs 2.72; Fauji Fertiliser Bin Qasim was improved by Rs 1.51; Engro Corporation Limited was appreciated by paisa-58, while Fatima Fertiliser Company, Summit Bank, Askari Bank, Pakgen Power Limited, Nishat Mills limited, Pace Pakistan and Pak Elektron Limited were up by paisa-54; paisa-43; paisa-42; paisa-30; paisa-29; paisa-28 and paisa-26, respectively.
Among the losers, PPL shed Rs 3.47; Adamjee Insurance was declined by Rs 3.38; MCB Bank lost Rs 2.6; while NBP, OGDC, Fauji Fertiliser Company, Attock Refinery Limited, Faysal Bank, Hira Textile Mills and Engro Polymer & Chemical were down by Rs 2.08; Rs 1.32; Rs 1.16; Re 1.00; paisa-66; paisa-60 and paisa-44, respectively.
Comments
Comments are closed.