LSE index loses 21.57 points

Equities moved both ways on the Lahore Stock Exchange (LSE) on Tuesday but finally settled in negative zone amid ascending transaction volume mainly on account of selling pressure emerged due to profit taking.
The LSE-25 index lost 21.57 points, closing at 4793.09 points against 4814.66 points of Monday, while trading turnover increased to 32.471 million shares as compared to 30.525 million shares traded a day earlier. After a long time, the movement in ready board was seen and low price scrips attracted the investors' attention and eventually closed high while many of them had to face upper cap. On the contrary, the heavy weights, after mid-day came under selling pressure due to profit-taking and thus closed in the negative zone.
The market opened on a healthy note and remained in positive zone till mid-day due to fresh buying in low-priced shares. However, the market could not maintain upward move and started declining because of profit-taking in blue chips, particularly, PSO, Pak Oilfield, Attock Refinery, National Bank, MCB Bank, DG Khan Cement, and Adamjee Insurance.
Commenting on the market sentiments, Amer Hussain Khan of Invest and Finance Securities termed the movement in ready board as a good omen for the market future and said it would attract more buying. Though the market is touching 13,500 mark, yet it failed to leave similar positive impact on the low-priced shares. If the movement in ready board continues, it could help generate further activities in term of shares' volume, he added.
Saudi Pak Commercial Bank, Pace Pakistan, Callmate, Jov & Co, Gharibwal Cement, Atlas Honda Cars, Shakarganj Sugar, Zamin Textile, New Jubilee Insurance, and many other shares had to witness upper cap which reflects the investors' interest, he maintained. He was optimistic that the low priced shares would continue upward move in next couple of days while the heavy weights, which had gained maximum value, could succumb to profit-taking any time.
Despite the increase in oil prices in the international market, the oil sector remained depressed in the local bourses. He was of the view that the retail investors should prefer low priced shares which have potential to yield good margin.
Declining stocks were ahead of advancing ones as out of a total of 140 active issues, 28 companies registered gains, 36 went down while 76 stayed glued to their previous level. Among gainers, Javed Omer Vohra and Co, improved by Rs 3.25, Soneri Bank gained Rs 2.65, Nishat Mills appreciated by Rs 2.20 while Picic Commercial Bank and Picic Insurance moved up by Rs 1.45 and Rs 1.35, respectively.
In the negative column, Attock Refinery lost Rs 6.10, United Bank declined by Rs 4.75, PSO depreciated by Rs 4.25, while National Bank and MCB Bank were down by Rs 3.25 and Rs 2.60, respectively. Arif Habib Securities was the market leader whose 4.818 million shares changed hands followed by DG Khan Cement with total trading of 1.890 million shares.