PSX remains range-bound as cautious sentiment persists; PIA stake bids in focus

The Pakistan Stock Exchange (PSX) experienced a largely range-bound session on Tuesday, as investor caution kept the benchmark KSE-100 Index trading within a narrow band. The session opened on a positive note, but after midday, the market saw a gradual decline as profit-taking and cautious trading set in. The KSE-100 Index closed at 171,073.73, down by 130.44 points or 0.08%.

Investor attention was focused on the ongoing bidding process for a 75% stake in Pakistan International Airlines (PIA), with three consortia submitting sealed bids to take control of the national carrier. On the previous day, the market had already faced pressure as the roll-over week dampened investor sentiment, resulting in a volatile session where the KSE-100 Index dropped by 200.31 points, or 0.12%, to settle at 171,204.18 points.