PSX: Late selling at bourse, KSE-100 sheds over 800 points

According to Business Recorder, the KSE-100 index closed Tuesday at 169,600.40 points, shedding 825.22 points or 0.48% as selling picked up late in the session. The index had opened on a firmer note and reached an intraday high of 170,944.34 before losing momentum. Selling gained pace after roughly 2pm and pulled the benchmark down sharply.

The index held within a narrow band of 170,400 to 170,600 through late morning and early afternoon. It slid to an intraday low of 169,538.22 near the close, finishing only just above that floor. Monday had already seen a 339.60-point retreat to 170,425.62, with investors cautious over Middle East tensions after reports that Donald Trump had turned down an Iranian ceasefire proposal tied to the Strait of Hormuz.

Globally, higher oil prices and bond yields weighed on Asian equities on Tuesday. The 10-year US Treasury yield climbed to a 19-year high above 5.27%, while the 2-year yield approached 5%, and traders were also preparing for a rate increase in Australia. Overnight, the Nasdaq fell 0.9%, a decline restrained by Nvidia's $150 billion buyback expansion.