Karachi: Pakistan’s markets showed mixed movement on Tuesday as fuel prices fell, domestic gold declined and equities traded marginally lower.

The benchmark KSE 100 Index stood at 165898.87 points at 2:03 pm, down 67.21 points or 0.04 percent, according to official Pakistan Stock Exchange data.

The index traded between 165694.20 and 166425.56 points during the session.

Market dashboard

Data status: PSX, international oil and international spot gold are Tuesday intraday readings. Domestic gold, silver and fuel prices are fresh 20 October figures. The rupee rate is Monday’s latest confirmed interbank close. Weekly inflation reflects the latest official PBS reading for the week ended 16 October.

PSX trades slightly lower

The KSE 100 remained close to Monday’s closing level on Tuesday.

At 2:03 pm, the index stood at 165898.87 points, down 67.21 points or 0.04 percent.

The benchmark touched an intraday high of 166425.56 and a low of 165694.20.

The All Share Index was also marginally lower at 100588.02 points.

These figures are intraday and do not represent Tuesday’s final market close.

Petrol and diesel fall today

The government reduced petrol by PKR 5.16 per litre, bringing the new price to PKR 381.14 per litre.

High speed diesel was cut by PKR 7.69 per litre to PKR 389.27.

The Petroleum Division said the new prices are applicable from 20 October.

The government continues to levy PKR 114 per litre in taxes and duties on petrol and PKR 100 per litre on diesel.

Gold drops PKR 3600

Domestic gold prices fell sharply on Tuesday.

According to the All Pakistan Gems and Jewellers Sarafa Association, 24 karat gold declined PKR 3600 to PKR 435436 per tola.

Ten gram gold fell PKR 3086 to PKR 373316.

Silver remained unchanged at PKR 6234 per tola.

The international rate used by the association declined USD 36 to USD 4129 per ounce.

Rupee latest close at PKR 276.90

The latest confirmed interbank closing rate is Monday’s.

The Pakistani rupee settled at PKR 276.90 against the US dollar, gaining one paisa during the session.

Tuesday’s official interbank closing rate was not yet available at publication time.

Oil climbs above USD 110

International crude prices rose on Tuesday as renewed attacks on Saudi infrastructure and vessels in the Gulf added to supply concerns.

Brent crude traded at USD 110.80 per barrel, up 1.1 percent, after touching USD 111.05, its highest level since May.

West Texas Intermediate rose 1.1 percent to USD 104.80, after reaching an intraday high of USD 104.94.

Reuters reported that the market was pricing in a higher geopolitical risk premium amid attacks on shipping and claimed strikes on Saudi energy infrastructure.

International gold eases

Spot gold fell 0.4 percent to USD 4123.94 per ounce on Tuesday.

Higher oil prices raised inflation concerns and reinforced expectations that interest rates could remain elevated for longer, weighing on demand for the non yielding metal.

Investors are also awaiting the US Federal Reserve’s 27 to 28 October policy meeting.

Weekly inflation edges lower

Pakistan’s latest Sensitive Price Indicator declined 0.04 percent in the week ended 16 October.

The combined SPI index eased from 372.58 to 372.43, while annual inflation stood at 11.38 percent.

Tomatoes fell 23.05 percent week on week, onions 4.90 percent, sugar 0.62 percent and petrol 0.70 percent.

Pulse gram rose 4.97 percent, wheat flour 3.36 percent, chicken 3.31 percent and diesel 0.47 percent.

Of the 51 essential items monitored, 23 became more expensive, seven declined and 21 remained unchanged.

Figures checked around 2:10 pm PKT. Intraday PSX, oil and international gold prices may change before markets close.