PSX: Buying drives KSE-100 up over 300 points

According to Business Recorder, buying interest pushed the benchmark KSE-100 index up by more than 300 points in the opening minutes of Tuesday's trade on the Pakistan Stock Exchange. At 9:35am the index stood at 170,749.97, a gain of 324.35 points or 0.19 per cent.

Sector buying covered carmakers, cement producers, lenders, fertiliser makers, upstream oil and gas explorers and fuel marketing firms. Heavyweights such as HBL, MCB, MEBL, NBP, NRL, MARI, POL, SSGC and SNGPL were trading higher. On Monday the index had shed 339.60 points, or 0.20 per cent, to close at 170,425.62 in a range-bound session shaped by Middle East uncertainty.

Globally, oil prices and bond yields both rose, with the 10-year US Treasury yield touching a 19-year high above 5.27 per cent overnight. Equity markets across most of the region slipped, while Japanese, South Korean and Australian debt markets came under strain. Nasdaq fell 0.9 per cent overnight even as Nvidia's $150 billion buyback boost lifted that stock.