Muthoot Finance, Manappuram shares rally nearly 5% on gold surge

Muthoot Finance shares rose 4.85% to ₹2,997.80, while Manappuram Finance gained 3.41% to ₹351.60 as gold prices surged over 3%. Spot gold jumped 3.6% to $4,487.91 an ounce, boosting the value of pledged collateral, supporting larger gold loan disbursals and reducing lenders' credit risk.