KARACHI: On the eve of the budget, the Pakistan Stock Exchange (PSX) witnessed fluctuations on Thursday, managing modest gains in a volatile session. However, the benchmark KSE-100 index failed to close above the key level of 170,000 despite an intraday effort to surpass it, amid rising tensions in the Middle East following reports of US-Israel attacks and Iranian retaliation.

Topline Securities Ltd said the benchmark KSE-100 index ended the session on a buoyant note, edging higher to close at 169,703 points, up 276 points or 0.16 per cent, a modest yet encouraging recovery amid an otherwise turbulent week dominated by geopolitical headwinds.

On the index contribution front, index heavyweights Meezan Bank, Mari Energies, Engro Holdings, United Bank, and Pakistan Oilfield were the primary drivers of upside momentum, collectively adding 315 points to the benchmark’s gain and underscoring sustained institutional interest in blue-chip names across the energy and banking sectors.

Ali Najib, Deputy Head of Trading at Arif Habib Ltd (AHL), said the PSX witnessed a consolidation session, with investor sentiment mixed amid persistent uncertainty over US-Iran tensions.

With no decisive developments on the geopolitical front, market momentum remained directionless as investors awaited greater clarity before taking fresh positions.

Pakistan’s GDP growth im­­proved to 3.7pc in FY­26, supported by stronger performances in the agriculture and services sectors. Meanwhile, per capita inco­me rose to $1,901, while investment and savings ratios remained bro­adly unch­anged.

Published in Dawn, June 12th, 2026