Bearish sentiments dominated on the Lahore Stock Exchange on Monday and the equities suffered declines amid sluggish trading trend. The LSE-25 index lost 14.04 points to close at 6086.39 against 6100.43 of last Friday while transaction volume was slightly decreased to 970,900 shares compared with previous volume of 982,700 shares.
The market was opened on a mixed note and remained range-bound during early trading hours. Later, the market could not sustain and started sliding following selling pressure in Mari Petroleum, Hascol Petroleum, Maple Leaf Cement, Pioneer Cement, Lafarge Pakistan Cement, Askari Bank, Bank of Punjab, PTCL, Pace Pakistan and PIA.
However, Pakistan Oil Fields, PSO, PICIC Growth Fund, Soneri Bank, Faysal Bank, Silk Bank, Fauji Cement and Systems Limited resisted pressure and ended in green zone with marginal gains. The losers were more than the gainers, as out of a total of 96 active issues, 09 companies posted gains, 15 stayed in minus column while 72 companies remained unchanged at their previous closing. Pakistan Oil Fields gained Rs 3.10 while PSO and PICIC Growth Fund were improved by Rs 2.50 and Rs 1.08, respectively. In the minus column, Mari Petroleum lost Rs 19.60, Hascol Petroleum shed Re 1.00 while Maple Leaf Cement and Askari Bank were declined by 56-paisa and 47-paisa, respectively. PIA with trading of 249,500 shares topped the volume leaders followed by Lafarge Pakistan Cement with 185,000 shares.