PSX registers modest growth

The Express Tribune reported that the Pakistan Stock Exchange closed a week of limited movement with a slight gain, as the KSE-100 index settled at 177,697, which is 530 points or 0.3 per cent higher over the week. Investors stayed cautious as moves to calm the US-Iran standoff advanced slowly and attempts to reopen the Strait of Hormuz to shipping lagged, while a Wednesday holiday further reduced trading volumes.

Daily moves were mixed: the index lost 200 points to 176,967 on Monday, gained 404 points to 177,371 on Tuesday, slipped 48 points to 177,323 on Thursday, then added 374 points on Friday. Arif Habib Limited said sentiment will hinge on geopolitical news, with the earnings reported so far largely solid providing some underpinning.

Moody's raised Pakistan's sovereign rating to B3 from Caa1 with a stable outlook, and an IMF mission for the fourth Extended Fund Facility review is due in September. Separately, the State Bank's FY26 net profit fell 20 per cent year-on-year to Rs1.99 trillion, with Rs1.932 trillion passed to the federal government. Five major refineries plan to sign upgrade agreements early next month under the Brownfield Refinery Upgradation Policy, a $6 billion effort aimed at domestic Euro 5 fuel output.