Today's Market

The index closed up 1.2pc at 33109, up 394pts. Volumes were steady at 142mln shares but value traded spiked 30pc to Rs 9.9bln mainly due to increased activity in big cap stocks. OGDC, PAEL, PSO, DGKC, ENGRO, PPL and MCB topped the active stocks list. KSE opened up and consolidated gains following regional markets after the US Federal Reserve decision to increase its benchmark rate . PPL continued its runup closing at uppercap for a second straight day. The gas discovery in sind seems to have brought attention to its undervaluation, even though international crude prices remained lack luster. OGDC recorded almost a billion rupees worth of transactions at the exchange today which was the highest by far his quarter. For the last two days PPL 's price has surprisingly exceeded that of OGDC. TREET, Amreli Steel and Archroma ended capped. Kohat cement closed up 4.5pc. Cements remained positive for the day. HBL and MCB and UBL closed 1pc up. The market was broadly positive wiping out the completely the losses incurred during the first two days of the trading week.

A five year chart of OGDC and PPL shows how the price of PPL has always remained below OGDC, coming close in October of this year but never surpassing it until now.