Bearish sentiments prevailed at the Lahore Stock Exchange (LSE) on Friday where losers outclassed gainers amid descending transaction volume. The LSE-25 index moved down to 6052.79 points against 6122.69 points of Thursday, showing a decline of 69.90 points, while transaction volume too declined to 683,200 shares, as compared to previous volume of 1,349,240 shares.
According to brokers, the investors are not taking fresh positions till Eid, which resulted in bearish sentiments. Some of the investors are waiting for positive news to enter into the market with fresh spirit. Mari Petroleum Company Limited, Fauji Fertilizer Bin Qasim, Crescent Star Insurance, Pace Pakistan Limited, Summit Bank Limited, Faysal Bank Limited and SilkBank Limited (Saudi) were the only seven gainers while Maple Leaf Cement Factory Limited, Byco Petroleum Limited, Lafarge Pakistan Cement, Fauji Cement Company Limited, Gul Ahmed Textile Mills Limited, Dewan Cement Limited, Pakistan International Airlines and Nishat Power Limited suffered losses and closed in minus column.
The losers were much ahead with the gainers, as out of a total of 80 companies, only seven showed strength and were closed in green zone, 18 suffered losses, while 55 companies stayed unchanged at their previous levels. Among the gainers, Mari Petroleum Company Limited gained Rs 3.04, Fauji Fertilizer Bin Qasim was appreciated Rs 1.27 and Crescent Star Insurance was up by paisa-64 while Pace Pakistan Limited, Summit Bank Limited, Faysal Bank Limited and SilkBank Limited (Saudi) were up by paisa-32, paisa-24, paisa-7 and paisa-06, respectively.
Among the losers, Maple Leaf Cement Factory Limited shed Rs 3.10, Byco Petroleum Limited was declined by Rs 1.44, Lafarge Pakistan Cement lost paisa-95, while Fauji Cement Company Limited, Gul Ahmed Textile Mills Limited, Dewan Cement Limited, Pakistan International Airlines and Nishat Power Limited shed paisa-80, paisa-80, paisa-45, paisa-27 and paisa-20, respectively. The volume leader of the day included the Bank of Punjab with 119,000 shares, SilkBank Limited (Saudi) with 110,000 shares and Dewan Farooq Motors Limited with 73,000 shares.