PSX Surges by Over 670 Points Driven by Institutional Buying in Blue-chip Stocks 

The 100-Index of the Pakistan Stock Exchange (PSX) turned around to bullish trend on Tuesday, gaining 671.73 points, a positive change of 0.85 percent, closing at 79,286.74 points against 78,615.00 points on the last working day.  In a brief note, brokerage house Topline Securities said this upward momentum was driven by institutional buying in blue-chip stocks. It highlighted that investor interest was notably strong in the cement sector, ahead of the upcoming monetary policy meeting on September 12, where a rate cut is widely anticipated.  A total of 509,490,385 shares were traded during the day as compared to 491,124,197 shares the previous day, whereas the price of shares stood at Rs. 13.763 billion against Rs. 10.124 billion on the last trading day.   As many as 436 companies transacted their shares in the stock market, 202 of them recorded gains and 170 sustained losses, whereas the share price of 64 companies remained unchanged.  The three top trading companies were WorldCall Telecom with 117,010,305 shares at Rs. 1.52 per share, Kohinoor Spinning with 57,119,736 shares at Rs. 10.06 per share and Agritech Limited with 18,160,711 shares at Rs. 35.31 per share.  Hoechst Pakistan Limited witnessed a maximum increase of Rs. 137.38 per share price, closing at Rs. 2,069.23, whereas the runner-up was Unilever Pakistan Foods Limited with a Rs. 68.99 rise in its per share price to Rs. 17,368.99.  Hallmark Company Limited witnessed a maximum decrease of Rs. 104.68 per share closing at Rs. 999.96 followed by Khyber Textile Mills Limited with Rs 60.65 decline to close at Rs. 545.81.