Karachi: Pakistan’s weekend market picture turned towards higher fuel costs and cheaper precious metals on Saturday, with no fresh trading at the Pakistan Stock Exchange or in the interbank currency market.

Market dashboard

Gold provided Saturday’s biggest fresh market move. The All Pakistan Gems and Jewellers Sarafa Association rate showed 24 karat gold falling PKR 4300 to PKR 436336 per tola, while 10 grams declined PKR 3687 to PKR 374087. Silver fell PKR 56 to PKR 6522 per tola. The international gold benchmark cited by the association dropped USD 43 to USD 4138 an ounce.

Fuel moved in the opposite direction. The Petroleum Division increased petrol by PKR 2.10 to PKR 392.76 per litre and high speed diesel by PKR 0.30 to PKR 399.64 per litre. The new rates apply from 3 to 5 October. OGRA attributed the adjustment to changes in international Platts rates, premiums and other pricing components.

There is no fresh Saturday PSX session. The KSE 100 closed Friday at 168155.49, down 481.36 points or 0.29%, after moving between 167685.43 and 168854.47 during the session.

Similarly, the latest interbank benchmark is Friday’s close. The rupee settled at PKR 277.07 against the US dollar, strengthening by three paisas from PKR 277.10 a day earlier. Friday’s interbank bid and offer were PKR 277.07 and PKR 277.27 respectively.

International oil markets are also closed for the weekend. On Friday, Brent settled at USD 102.25 per barrel, while WTI ended at USD 91.11 after European leaders agreed to release diesel stocks and coordinate an additional crude stock release, easing some supply concerns.

Meanwhile, Pakistan’s weekly Sensitive Price Index rose 0.21 percent in the week ended 1 October. Chicken recorded the largest weekly increase among the highlighted food items at 7.25 percent, while sugar fell 1.05%. Year on year, SPI inflation stood 11.53 percent higher.