Contrary to the investors' expectations in the wake of tabling no-confidence motion against the prime minister, equities marginally recovered a day earlier losses and closed in the green zone on Lahore Stock Exchange (LSE).
The LSE-25 index improved by 12.69 points, closing at 4445.58 against 4432.89 of Tuesday, while transaction volume squeezed from previous trading of 29.454 million shares to 21.234 million shares due to lacking interest on the part of investors.
The market opened on a negative note and remained under pressure till the mid day. However, market sentiments were changed following receipt of exact and accurate information with regard to notification issued by Oil and Gas Regulatory Authority (OGRA) for re-evaluation of gas fields owned by PPL and OGDC.
Experts were of the view that offloading of holdings by the investors generated selling pressure in the market. On Wednesday, the investors were very conscious and adopted 'wait-and-see' approach while most of them remained on the sidelines which restricted the trading volume.
Advancing stocks were ahead of declining ones as out of a total of 94 trading companies, 33 appreciated their worth, 12 recorded loss while 49 stayed glued to their previous levels.
Among the gainers, Adamjee Insurance improved its value by Rs 10.65, Engro Chemical appreciated by Rs 7.35, National Bank moved up by Rs 3.20, while Nishat Mills and Pioneer Cement were up by Rs 2.95 and Rs 2.20, respectively. In the minus column Pak Oil Field declined by Rs 9.00, Sui Northern lost Rs 0.85, ICI Pak depreciated by Rs 0.75 while Soneri Bank and PTCL were down by Rs 0.50 each. D.G. Khan Cement was the market leader whose 2,786,600 million shares changed hands followed by National Bank with total trading of 2,358,400 million shares.
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