KARACHI: The stocks Wednesday opened bullish, adding 156.25 points to cross the psychological barrier of 34,000 mark to reach 34,003.99 points level in early trading.
On Tuesday, the Pakistan Stock Exchange benchmark 100-share index gained 163.18 points to close at 33,847.74 points. Bull-run was witnessed in the banking sector with UBL rising 0.83 per cent and ABL 2.16 per cent after declaring their financial results for the 1Q2016, which were both better than market’s expectations, dealers said. Volume increased by 50 per cent to 258m shares while value increased by 86 per cent to Rs 11.9 billion. NML announced result of EPS Rs7.2 which was above expectations. Stock closed up by 2 per cent. Earnings of Rs1.2/share were announced by PAEL which led the stock to decline by 1.1 per cent. FFC & OGDC announced disappointing results which led their stocks to decline by 1.8 per cent & 1 per cent respectively.
