By Staff Reporter KARACHI:  Pakistan Stock Exchange benchmark KSE-100 Index closed session higher by 690 points amid expectations of further cut in policy rate.

KSE-100 started session with buying spree that largely continued throughout session. At close, benchmark index settled at 81,804.59, up by 690.39 points or 0.85 percent. Key drivers of market rally included heavyweights such as HUBC, MARI, OGDC, BAHL and PPL, collectively contributing 533 points to index. Conversely, BAFL, HBL, POL, UBL and MEBL pulled index down by combined 170 points, brokerage house Topline Securities said. Volume on all-share index increased to 359.08 million from 297.99 million on Monday.

Value of shares jumped to Rs 17.16 billion from Rs 14.10 billion in previous session. Fauji Cement was volume leader with 29.12 million shares, followed by Hub Power Co.XD with 19.62 million shares and WorldCall Telecom with 19.05 million shares. Shares of 436 companies were traded on Tuesday, of which 243 registered an increase, 139 recorded fall while 54 remained unchanged.  Globally, Asian stocks eased near two-and-half-year highs on Tuesday and dollar firmed following hawkish comments from Federal Reserve Chair Jerome Powell that scuppered bets of big interest rate cuts, while Mid-East tension kept risk sentiment in check. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.13 percent lower at 620.05 on Tuesday, just below two-and-a-half-year high of 627.66 touched on Monday.  Japan’s Nikkei rose 1.5 percent in early trading after shedding 4.8 percent on Monday as investors contended with perceived monetary policy hawk Shigeru Ishiba winning contest to become country’s prime minister.