KARACHI: The Pakistan Stock Exchange (PSX) eked out gains on Friday as investors hunted for value despite persistent geopolitical tensions.

Meanwhile, before the formal start of the fourth review of the $7bn Extended Fund Facility (EFF) and the third review of the $1.4bn Resilience Support Facility (RSF), beginning on Monday, the International Monetary Fund (IMF) sought approximately 174 amendments to various laws to strengthen financial sector governance.

Topline Securities Ltd said themarketremained range-bound during the weekend session. The lacklustre activity was attributed to investors`preference for staying on the sidelines amid elevated crude oil prices and a lack of meaningful progress in negotiations between the US and Iran.

Habib Bank, United Bank, Bank Alfalah, Bank Al-Habib and PSO collectively contributed 206points to the index. Conversely, Meezan Bank, Fauji Fertiliser, Hub Power, Pakistan Telecommunication Company and Cnergyico PK wiped out 152 points.

Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said the benchmarkKSE-100 index traded in both directions before closing flat. The index reached an intraday high of 171,160 and a low of 169,891, reflecting cautious investor participation amid prevailing uncertainties.

Investor sentimentremained cautious amid geopolitical uncertainty.

According to media reports, Saudi Arabia, Türkiye and Pakistan are expected to hold an urgent, high-level meeting under their joint defence pact to discuss measures to support the Saudi kingdomamid attacks by Yemen`s Houthis, while Tehran sought to distance itself from the rapid advance of its Houthi allies.

Meanwhile, PTI has decided to delay its march to Islamabad following the deployment of thousands of security personnel, road blockades and restrictions on public gatherings.

On the corporate front, PSO reported FY26 earnings per share of Rs32.10, down 28pc year on year, primarily due to lower sales volumes, higher inventorylosses,elevated petroleum prices, and a weaker contribution from the LNG segment amid ge opolitical tensions. The company also announced a final cash dividend of Rs10 per share for 4QFY26.

Investor participation weakened sharply as trading volume plunged 36.47pc to 482.7 million shares and turnover value dipped 29.97pc to Rs19.2bn. Cnergyico PK remained the volume leader, with 108.2m shares traded.