KARACHI, Jan 25: The stock market on Wednesday extended the overnight fall on renewed profit-selling in the oil sector followed by below market expectations on earning reports by some of the leading exploration companies.

But larger fall was averted owing to the presence of buying support at the dips, notably on the blue chips counters under the lead of fertiliser amid market talks of higher profits, floor brokers said.

The KSE 100-share index was quoted further lower by 41.63 points at as 11,949.75 as compared to previous 11,991.38 points, reflecting the weakness of major baseshares, notably in the oil and fertiliser sectors.

Much of the alternate bouts of buying and selling again remained confined to the lowpriced shares, notably Lotte Pakistan, JS & Co, and some others, indicating investors were not inclined to tread on the high profile areas for obvious reasons, they said.They said although most of the major demands of the investors were accepted by the government, as they will be effective from April 1, there was relative pause on the blue chip sectors, which set the market trend.

`All hopes are now focused on interim working results of major companies due in the next couple of sessions andanalysts expect the revival of demand during the postresult trading.

And indications are that by that time relief aided buying could reemerge on some coun-ters, though on modest scale depending the news from the political front, they added.

Prominent gainers were led by Nestle Pakistan and Services Industries, upRs142.78 and 9.95, while losers were led by Attock and Pakistan Petroleum, off Rs4.52 and 2.56, respectively.

Traded volume fell sharply lower to 124.848m sharesfrom the previous 200.055m shares as losers held an active lead over the gainers at 136 to 106, with 92 shares remaining pegged at the previous levels.

The active list was led by JS & Co, off 61 paisa at Rs6 on 15m shares followed by DG Khan Cement, up Rs1.07 at 23.18 on 14m shares, Bank Al Falah, steady by 14 paisa at 12.29 on 8m shares, Lotte Pakistan, firm by one paisa at 10.04 also on 8m shares, Engro Corporation, off Rs1.99 at 114.10 on 4m shares, Lucky Cement, up 79 paisa at 85.77 also on 4m shares and Fatima Fertiliser, steady by one paisa at 22.19 on 4m shares.

They were followed by JOV & Co, firm by eight paisa at 2.83 on 4m shares, AzgardNine easy by 46 paisa at 3.52 also on 4m shares and Fauji Cement, steady by 11 paisa at 3.94 on 4m shares.

DEFAULTER COs: Activity on this counter was relatively slow but the final closing was on mixed note; Dost Steels came in for active selling at the overnight rise and was quoted lower by 23 paisa at Rs1.46 on 39,531 shares, followed by Kohinoor Industries, steady by five paisa at 0.95 on 18,625 shares and Genertech Power, easy one paisa at 0.39.

But on the other hand, Quice Foods and Shakarganj Foods rose by 89 paisa and one rupee at Rs3.20 and Rs6 on 4,122 and 2,500 shares, respectively.