KARACHI: On the last business day of the week, the Pakistan Stock Exchange (PSX) continued its bullish run, the stock exchange index crossed the 53,000 points mark after six and a half years, ARY News reported, citing topline security reports.
The KSE-100 benchmark index soared to 53,044 points earlier in the day and closed at 53,160.06 points against the previous day’s close of 52,656.76 points.
According to Topline Securities, economic stability played a pivotal role in the benchmark index and reached an all-time high after six-and-a-half years.
It is pertinent to add here that the index reached a maximum of 44,596.07 points in 2021, while in 2022, the index reached a maximum of 42,420 points.
However, for the first time in history, the stock market has crossed a remarkable milestone.
Gold rates register surge
in Pakistan as per tola price witnessed an increase of Rs1100 in the domestic market on Friday.
The price of the precious yellow metal of 24 karat increased by Rs1100 to settle at Rs214,400 per tola in Pakistan, the association said.
Likewise, the rate of 10 grams of the precious metal also increased by Rs943 to settle at Rs183,813.
In the international market, gold struggled for momentum on Friday as investors refrained from making big bets ahead of the U.S. non-farm payrolls report, which could help gauge the Federal Reserve’s monetary policy path.
Spot gold was almost flat at $1,986.24 per ounce and U.S. gold futures were little changed at $1,994.00.
Elsewhere, spot silver was down 0.6% at $22.62 per ounce and was on track for its second straight weekly loss.
Platinum rose 0.6% to $925.11, heading for its fourth consecutive weekly rise. Palladium climbed 1.8% to $1,119.54.
Leave a Comment