LSE index down 31.55 points

Depressed sentiments kept the activity range-bound on the Lahore Stock Exchange (LSE) on Wednesday and the equities registered losses amid marginally improved trading turnover due to selling pressure on account of prevailing political uncertainty.
The LSE-25 index lost 31.55 points and closed at 1649.32 against 1680.87 of Monday while transaction volume marginally increased to 7.716 million shares as compared to previous volume of 6.430 million shares. The oil, banking and fertiliser sectors shares including PDO, Attock Refinery, Pak Oil Fields, Pakistan Refinery, PPL, OGDC, Fauji Fertiliser, Engro Chemical, Fauji Fertiliser Bin Qasim MCB Bank, Allied Bank, National Bank and Bank Alfalah remained under pressure and stayed in negative zone.
However, Shell Pakistan, United Bank, NIB Bank, Adamjee Insurance, and Nishat Chunian resisted pressure and closed with marginal gains. The market opened on a negative sign at 1,677 but started improving soon after the commencement of trading. As a result of fresh entries made in selective shares of the banking, oil and insurance sectors led the market upward to cross 1,703 during first half-hour.
However, as soon as market touched the days peak level, the investors offloaded their holdings to pocket the available margin. As a result, the market started showing downward move that continued till the closing of market. The stock future depends on the political, law and order situation in the country analysts said.
As many as 13 companies out of a total of 95, managed gains, 46 registered losses while values of 36 companies remained unchanged at their previous levels. Shell Pak posted a gain of Rs 2.75, United Bank was improved by Rs 1.85, while Dawood Lawrencepur and Japan Power were up by Rs 0.59 and Rs 0.53 respectively.
In the minus column, PSO lost Rs 4.89, Attock Refinery declined by Rs 3.75, Fauji Fertiliser was depreciated by Rs 3.20, while Pak Oil Fields and Pakistan Refinery were up down by Rs 2.95 and Rs 2.84 respectively. NIB Bank with trading of 1.023 million shares topped the volume leaders followed by National Bank with 718,400 shares.