PSX: KSE-100 ends trading on a positive note

Business Recorder reported that the benchmark KSE-100 closed 404.02 points higher, or 0.23 per cent, at 177,370.70 on Tuesday. The index touched 177,775.70 soon after the opening bell, then slid to 176,577.14 in early afternoon before climbing back through late buying.

The KSE-100 had shed 199.84 points, or 0.11 per cent, to 176,966.69 on Monday as profit-taking in heavyweight stocks erased most early gains. Oil and gas and cement shares attracted selective buying that limited the decline. Moody's Ratings also lifted Pakistan's sovereign grades, covering both local and foreign currency obligations, to B3 from Caa1 on Monday.

Global markets were under pressure, with Asian shares slipping and oil prices falling as investors awaited Nvidia's results on Wednesday. MSCI's broadest Asia-Pacific index outside Japan dropped 0.5 per cent, Japan's Nikkei lost 0.9 per cent and South Korea's Kospi slid 2.7 per cent. Tech sentiment was also hit by Alibaba's $10.2 billion share sale at a steep discount and disappointment over Samsung Electronics' shareholder-return plan.