Value-hunting takes PSX to new highs in bullish week.
<script type="text/javascript"> atOptions = { 'key' : 'bfecbef1b40b8a6b17e0473e4fae0361', 'format' : 'iframe', 'height' : 250, 'width' : 300, 'params' : {} }; </script> <script type="text/javascript" src="//www.highperformanceformat.com/bfecbef1b40b8a6b17e0473e4fae0361/invoke.js"></script> The rate cut expectation drove the market to new highs despite some uncertainties about the IMF review this month as the country missed some key benchmarks set for the first quarter. Arif Habib Ltd (AHL) said the market commenced on a positive note this week on the back of the expectation of a rate cut in the upcoming monetary policy next week along with robust financial results, due to which the market reached an all-time high of 91,358 points in the intraday on Oct 29. On the economic front, Pakistan achieved a rare budget surplus of Rs1.7 trillion, the first after 2QFY04). Mor...