The Pakistan Stock Exchange 100-Index Rises While Gold Prices Dip Slightly
Pakistan Stock Exchange Witnesses Positive Momentum
The Pakistan Stock Exchange (PSX) 100-index experienced a significant increase, closing higher at 47,736.61 points on Monday. This marked a rise of 227.94 points or a 0.48% increase from the previous day’s close. The trading session saw a substantial exchange of 233,661,179 shares worth Rs.7.076 billion ($41 million) among 332 companies.
Trading Volume Leaders
Among the traded 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.
Price Decliners and Unchanged Stocks
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.
Minor Decline in Gold Prices
In contrast to the stock market’s performance, gold prices saw a minor decline on Monday. The price of 24-karat gold dropped to Rs 195,000 per tola (approximately $1,137), according to the All Pakistan Jewelers Association. 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.
Positive Outlook for the Pakistani Stock Market
The trading volume on Monday was lower compared to the previous day, but the upward trend in the PSX 100-index suggests a positive momentum for the Pakistani stock market. Investors are optimistic about the potential for further gains in the coming days.
This article provides an overview of the performance of the Pakistan Stock Exchange and the slight decline in gold prices. It highlights the leading companies in terms of trading volume and price fluctuations. The positive momentum in the stock market indicates a favorable outlook for investors. Please note that this article is for informational purposes only and should not be considered as financial advice.