PSX shoots up to new record high, breaching 87,000 points barrier

Stocks in Pakistan reached a record high above 87,000 points due to positive economic indicators and forecasts. Investors were optimistic about strong current account and foreign direct investment figures, as well as GDP growth projections from the IMF. The market saw heavy buying in various sectors, with decreasing yields on fixed-income securities indicating potential future lower interest rates. Strong corporate results and expectations of attractive dividends also boosted investor confidence. The passage of the 26th Amendment and positive economic data further fueled the bullish wave in the market. Analysts are hopeful for a rate cut in the upcoming monetary policy announcement and expect a positive impact on the economy.