Stellar performance tosses PSX to new highs

Due to positive economic data and a larger-than-expected interest rate cut, the stock market experienced a record-setting streak throughout the outgoing week, except for one session, ultimately closing above 93,000 for the first time. After staging a robust rally on the first day amid anticipation of a fourth straight cut in the benchmark interest rate ahead of the announcement of monetary policy, the market witnessed, in contrast to the global trend, some nervous selling by a section of investors on Wednesday, fearing a shift in the US policy towards Pakistan after Donald Trump was elected the 47th president of the United States of America. However, the US election result drove Wall Street, the US dollar and bitcoin to record highs.