Lackluster conditions prevail on LSE

With a drastic decline in trade turnover, the local share market depicted lackluster conditions on account of lacking interest from the potential investors, which forced the benchmark index to close with a depressed note.
The LSE-25 index ended at 4435.28 points as compared to 4440.41 points of Wednesday, recording a fractional fall of 5.13 points. Volume was, however, considerably down to 24.267 million shares from previous day's 36.888 million shares, shrinking by 12.621 million shares.
The market painted a dull picture throughout the day and all prime sectors, including major banks, oil distribution and exploration companies, showed negative signs, brokers said. However, activity was seen in Engro Chemical, Allied Bank and some cement stocks, but their impact on the market sentiment was quite negligible, they added. Due to prevailing political situation and law and order problem, people are unwilling to leave safe heavens and are adopting a 'wait-and-see' policy, analysts said.