Optimism tosses PSX to new highs

KARACHI: Economic optimism driven by robust data and expectations of an interest rate cut next month, the stock market extended its record-setting spree in the outgoing week, propelling the benchmark index to its highest-ever level near 86,000 despite aggressive selling by foreigners.

Arif Habib Ltd (AHL) said the market displayed remarkable performance in the outgoing week by reaching an all-time high of 85,669 points on a closing basis on Wednesday. The scrips such as Oil and Gas Development...