The depressed sentiments prevailed on the Lahore Stock Exchange (LSE) on Wednesday and the equities remained under pressure because of selling pressure in oil and banking sectors. The LSE-21 index further slipped by 23.13 points and was closed at 3308.65 against 3331.78 of Tuesday, while trading turnover increased from overnight volume of 9.429 million shares to 13.807 million shares.
The market opened on a negative sign and remained under pressure throughout the day. The market, soon after resumption of trading started declining and lost about 40 points during first 30-minute of trading. Selling pressure was seen in oil and energy sector's shares including PSO, Attock Refinery, PPL, Mari Gas while banking companies like National Bank, Habib Bank and Silk Bank also remained under pressure. Besides, the other blue chips including ICI Pakistan, Treet Corporation, Fauji Fertiliser, Arif Habib Securities, Lotte Pakistan PTA, WorldCall Telecom, Pakistan Reinsurance also could not support the market sentiments. However, following buying on dips, Pak Oil Fields, Nishat Chunian, Javed Omer Vohra and Co, Maple Leaf Cement Facto and NetSol Technologies showed strength and resisted declines.
The declining stocks were ahead of advancing ones. Of 115 active issues, 23 posted gains, 47 stayed in negative column, while 45 companies were closed at their previous levels. NetSol Technologies gained Rs 1.15, Century Paper and Board was improved by 99-paisa, Nishat Chunian was appreciated by 89-paisa, while Allied Bank and Pak Oil Fields were up by 59-paisa and 56-paisa, respectively.
In minus column, Mari Gas lost Rs 4.00, PSO was decline by Rs 3.31, Attock Refinery was depreciated by Rs 2.64, while PPL and Habib Bank were down by Rs 2.63 and Rs 2.40, respectively. Lotte Pakistan PTA with trading of 2.970 million shares topped the volume leaders followed by Maple Leaf Cement Facto with 2.792 million shares.
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