PSX: buying at bourse, KSE-100 up over 1.5%

Business Recorder reported that investors returned to the PSX on Tuesday, with the KSE-100 index closing 1.56 per cent higher at 168,460.10. The gain of 2,592.79 points reversed a sharp fall on Monday, when the index shed 2,288.17 points to end at 165,867.32.

Trading was volatile throughout the session. The index dipped to 165,651.67 around midday, then gathered pace in the afternoon and moved above the 167,000 and 168,000 levels. It peaked at 168,626.18 in the final moments of trading before giving back part of its advance.

According to the report, Monday's sell-off reflected political uncertainty in the region and at home, together with higher international crude oil prices, which triggered broad selling across major sectors. Overseas, Asian shares rose on Tuesday after a tech-led rally took the Nasdaq to a record close, while oil prices eased. The euro hovered near 17-month lows after investors sold French government bonds following a weak budget.