Karachi: Pakistan Stock Exchange (PSX) benchmark KSE-100 Index gained 409 points to close at fresh record high. KSE-100 started session positive, hitting an intra-day high of 86,846.04, followed by late-session selling that trimmed some gains.

At close, benchmark index settled at 86,466.58, up by 409.06 points or 0.48 percent. Volume on all-share index jumped to 722.21 million from 474.95 million on Monday.

Value of shares rose to Rs 25.02 billion from Rs 19.66 billion in previous session. K-Electric Ltd was volume leader with 224.20 million shares, followed by WorldCall Telecom with 30.20 million shares and Fauji Foods Ltd with 26.10 million shares. Shares of 451 companies were traded on Tuesday, of which 231 registered an increase, 149 recorded fall while 71 remained unchanged.

“This positive movement was driven by institutional buying and better-than-expected corporate earnings,” brokerage house Topline Securities said. Globally, Asian stocks turned lower and dollar stood by multi-month peaks on Tuesday. Benchmark 10-year Treasury yields rose 11 basis points overnight and further 1 bp in early Asia trade to 4.19 percent. Japan’s Nikkei slid 1.1 percent in morning trade to hit its lowest since early October. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.8 percent. Wall Street gauges edged down overnight and futures inched lower in Asia.