PSX 100-index rises while gold prices dip slightly

The Pakistan Stock Exchange (PSX) 100-index experienced an increase, closing higher at 47,736.61 points on Monday. This marked a rise of 227.94 points or a 0.48 per cent increase from the previous day’s close. The trading session saw 233,661,179 shares worth Rs.7.076 billion ($41 million) exchanged among 332 companies.

K-Electric Ltd led the trade volume with its shares priced at Rs 2.3 each. It was closely followed by WorldCall Telecom and P.I.A.C (A), with their shares priced at Rs 1.29 and Rs 5.49 respectively. Meanwhile, Sapphire Fiber and Siemens Pak experienced the highest price increases for the day, with their share prices rising by Rs38.95 and Rs35.25 respectively.

On the other hand, Mehmood Tex and Pak Engineering faced the largest price drops for the day, with their share prices declining by Rs 41.25 and Rs 26.96 respectively. Despite these fluctuations, it is noteworthy that the share prices of 16 companies remained unchanged throughout Monday’s trading session.

In contrast to the stock market’s performance, gold prices saw a minor decline on Monday. The All Pakistan Jewelers Association reported a slight drop in the price of 24-karat gold to Rs 195,000 per tola (approximately $1,137). The rates for 22-karat gold and 10 grams of 24-karat and 22-karat gold were quoted at Rs 178,750 per tola ($1,041), Rs 167,181 ($974), and Rs 153,249 ($892) respectively.

The trading volume on Monday was lower compared to the previous day’s trading volume of 246,382,303 shares valued at Rs 7.184 billion ($42 million). Despite this, the upward trend in the PSX 100-index suggests a positive momentum for the Pakistani stock market.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.