KARACHI: The stock market Wednesday started day with bullish note and added 263.91 points to reach 39411.24 points level in early trading.
On Tuesday, the stock witnessed range-bound activity as the benchmark KSE 100-index rallied by 130 points (0.33%) and closed at 39147.33 points. The PSX index was led by the pharmaceutical sector that rallied as news circulated that notification for increase in prices of drugs was issued by Drug Regulation Authority (DRAP). SEARL (up 4.82%) and ABOT (2.08%) were the biggest index movers in the sector, dealers said. Volumes increased by 19.4% to 197m shares while value also increased by 17.5% to Rs 11.4b/$108m. UBL announced above expected result with EPS of 5.7/share along with Rs 3 cash dividend which led the stock to gain by 2%. HCAR also announced its EPS of 7.4/share. Stock declined by 1.3% even though result was above market consensus.
