KARACHI:  Selling pressure was seen at Pakistan Stock Exchange (PSX) on Tuesday, as benchmark KSE-100 Index closed lower by 367 points.

KSE-100 started session positive, hitting an intra-day high of 82,010.10. However, selling pressure dominated market in latter hours and pushed index to an intra-low of 81,107.39. At close, after some late-session buying, benchmark index settled at 81,483.64, down by 366.86 points or 0.45 percent.

"Downward shift was largely driven by profit-taking, particularly in key stocks such as HUBC and EFERT, which reshaped market sentiment," brokerage house Topline Securities said. Broad sell-off was seen in HUBC, EFERT, MCB, PPL and BAFL, it added. Volume on all-share index decreased to 369.62 million from 400.31 million on Monday. Value of shares declined to Rs 17.06 billion from Rs 18.69 billion in previous session.WorldCall Telecom was volume leader with 39.36 million shares, followed by Pace (Pak) Ltd with 22.59 million shares and Hub Power Co.XD with 21.24 million shares. Shares of 427 companies were traded on Tuesday, of which 127 registered an increase, 246 recorded fall while 54 remained unchanged. Globally, Asian stocks rose on Tuesday to their highest in more than two and half years, boosted by slew of Chinese stimulus measures while expectations for more US rate cuts kept risk sentiment aloft and dollar under pressure.

Moves sent Chinese stocks higher, with blue-chip CSI300 Index opening 1 percent higher, while broader Shanghai Composite index was also up 1 percent at open. That pushed MSCI's broadest index of Asia-Pacific shares outside Japan 0.41 percent higher to 588.43, levels last seen in April 2022.