PSX: Buying continues, KSE-100 settles with nearly 250 points gain

Business Recorder reported that buying continued at the Pakistan Stock Exchange on Tuesday, with the benchmark KSE-100 closing 248.92 points higher at 171,402.08. The index reached 171,680.73 at its peak before selling pressure pulled gains back, and it slid to 170,866.93 at its lowest point in the middle of the session. A sharp recovery and a strong late buying spell lifted the index again, leaving the close 0.15% up.

Topline Securities linked the advance to lower international oil prices and hopes for an easing of tensions between the US and Iran, which eased worries about inflation and the external account. The brokerage also noted that geopolitical uncertainty kept investors cautious and capped broader gains. MARI, PPL, HUBC, FCCL and LUCK collectively added about 233 points, while BAHL, FFC and MCB together subtracted roughly 172 points.

Trading activity eased, with volume falling to 641.83 million shares from 692.88 million and value declining to Rs18.47 billion from Rs20.10 billion. Of the 494 companies traded, 226 rose, 221 fell and 47 closed unchanged. Media Times Ltd and WorldCall Telecom were among the most traded stocks, with 72.72 million and 48.57 million shares respectively, while the rupee gained Rs0.01 to close at 277.21 against the dollar.