KARACHI: The Pakistan Stock Exchange (PSX) closed higher on Thursday, with the benchmark KSE-100 Index gaining more than 768 points, while gold prices remained unchanged in the local market.
The KSE-100 Index rose 768.6 points, or approximately 0.46 per cent, to settle at 166,186 points, according to the figures provided. The advance extended the market’s positive momentum following a gain of 641.07 points in the previous session, when the benchmark closed at 165,417.51 points.
Buying interest in banking, energy and automobile stocks supported Thursday’s advance.
The benchmark had touched an intraday high of 166,877.01 points, gaining more than 1,459 points at its peak, before paring some of those gains.
The positive performance followed a volatile session on Wednesday, when renewed buying towards the close helped the market recover from earlier pressure. Investors had been cautious amid domestic political uncertainty and rising international oil prices, with buying in banking, oil and gas, and power-sector stocks helping the benchmark finish in positive territory.
Market participants continued to monitor developments affecting investor sentiment, including geopolitical risks, oil prices and domestic economic conditions.
The sustainability of the recovery will depend partly on whether buying interest broadens across sectors and trading activity strengthens.
Meanwhile, gold prices remained unchanged on Thursday, with 24-karat gold priced at Rs437,836 per tola and Rs375,373 per 10 grammes, according to rates reported by the All-Pakistan Gems and Jewellers Sarafa Association.
The unchanged rates followed a decline of Rs3,000 per tola on Wednesday, when the price of 10 grammes fell by Rs2,572. The adjustment came as international gold prices declined by $30 to $4,153 per ounce.
Silver prices, meanwhile, moved lower. The price of silver fell by Rs212 to Rs6,148 per tola on Thursday.
The contrasting movements in equities and precious metals reflected different developments in the two markets, with selective buying supporting stocks while gold prices held steady after the previous session’s decline.
PAK SOUCH MEDIA GROUP
Daily Pak Souch Newspaper Sukkur – Daily Pak Special Newspaper Karachi – Daily Pak Today Newspaper Karachi – Daily Pak Jazbo Newspaper Sukkur
Head Office : Ayub Gate Shaikh Muhalla Near Rabbania Masjid Sukkur
Karachi Office : Office No. 1901-B, 19th Floor Saima Trade Tower (B) Block I.I Chandigarh Road Near Jung Press, Shaheen Complex & National Museum of Pakistan Karachi Sindh Pakistan.
Contact : 03009319022
Website 1 : https://paksouch.com/
Website 2 : https://sindhi.paksouch.com/
Website 3 : https://pakjazbo.com/
Website 4 : https://urdu.pakjazbo.com/
About The Author
