
Gold price per tola gains Rs2,500 in Pakistan
As per the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs306,584 after it accumulated Rs2,143.
On Thursday, gold price per tola reached Rs355,100 after a loss of Rs900 during the day.
The international rate of gold also increased on Friday. The rate was at $3,351 per ounce (with a premium of $20), a gain of $25, as per APGJSA.
Meanwhile, silver price per tola increased by Rs48 to reach Rs4,012.
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Express Tribune
10 hours ago
- Express Tribune
Stocks give up early gains, succumb to profit-booking
The Pakistan Stock Exchange (PSX), after kicking off the new trading session on an upbeat note on Wednesday, gave up early optimism over profit-booking pressure. By the close of trading, the benchmark KSE-100 index recorded a loss of 476 points, or 0.32%, at 146,529. In the morning, stocks showed impressive movement, which took the index to intra-day high of 147,892. However, at midday the market began to lose steam as traders grew increasingly risk averse. It resulted in a steady pullback, pushing the index to the day's low at 146,418. The downturn was largely attributed to profit-booking. Arif Habib Limited (AHL) Head of Research Sana Tawfik told The Express Tribune that the stock market started off on a positive note but lost early momentum due to profit-taking and closed lower. 'As expected, it is a consolidation phase at current levels following a streak of record-breaking rallies,' she said. 'However, the sentiment is expected to turn positive in the backdrop of several factors such as Moody's credit rating upgrade for Pakistan to Caa1 from Caa2 and robust financial results. Profit-taking is also expected to continue simultaneously,' she added. KTrade Securities, in its market wrap, noted that the KSE-100 index remained range bound as investors continued to take profit. The index lost 476 points and closed at 146,529 after hitting intra-day high of 147,892 and low of 146,418. Cement stocks performed positively while fertiliser and oil and gas sectors lost ground, it said. Key gainers included Lucky Cement, Habib Bank, Meezan Bank and National Bank. On the flip side, Fauji Fertiliser, Engro Fertilisers, Pakistan Petroleum and MCB Bank pulled the index down. The uptrend may continue, however, some consolidation is likely as the index hovers around record highs, KTrade concluded. Overall trading volumes decreased to 647.1 million shares compared with Tuesday's tally of 691.7 million. Traded value stood at Rs40.9 billion. Shares of 487 companies were traded. Of these, 199 stocks closed higher, 240 dropped and 48 remained unchanged. Yousuf Weaving was the volume leader with trading in 51.8 million shares, gaining five paisa to close at Rs6.14.


Business Recorder
14 hours ago
- Business Recorder
Gold price continues to fall, reaches Rs358,100
Gold prices in Pakistan continued to decrease on Wednesday in line with their loss in the international market. In the local market, gold price per tola reached Rs358,100 after a decline of Rs200 during the day. As per the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs307,013 after it lost Rs171. On Tuesday, gold price per tola reached Rs358,300 after a decline of Rs500 during the day. The international rate of gold also saw a decrease today. The rate was at $3,354 per ounce (with a premium of $20), a loss of $2, as per APGJSA. Meanwhile, silver price per tola increased by Rs59 to reach Rs4,072.


Business Recorder
20 hours ago
- Business Recorder
Stocks surge, KSE-100 gains over 600 points in early trade
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