Pakistan Stock Exchange (PSX) ended flat in a range-bound session as Karachi Stock Exchange (KSE 100 index) shed 19.63 points to close at 31,908.92 points on Tuesday following the announcement of the monetary policy a day earlier. The indices remained volatile throughout the day as KSE 100 Index opened at 32,004.33 and closed at 31,908.92, while volumes improved slightly from the previous session. On the economic front, the State Bank of Pakistan (SBP) has left interest rates unchanged at 13.25pc (8-year high) for the next two months. The market sentiments were volatile amid lack of interest in the trading session.Although the week kicked off on a positive note influenced by the speculation of monetary policy cut, the state Bank’s announcement didn’t came as a surprise since the market didn’t achieved the desired outcome laid by the SBP. The KSE-100 Index, which opened at 32,004.33, lost 158.57 points during early hours to mark an intraday low of 31,769.98. The index then swung back and forth in both directions, reaching an intraday high of 32,106.19 (up by 177.64 points). It finally settled lower by 19.63 points at 31,908.92. The KMI-30 Index gained 2.05 points to close at 50,722.05, while the KSE All Share Index lost 19.17 points, ending at 23,314.98.The overall market volumes were recorded at 122.01 million. DG Khan Cement Company Limited (DGKC +1.80pc), Pak Elektron Limited (PAEL +4.15pc) and Maple Leaf Cement Factory Limited (MLCF -0.85pc) remained the top picks of the day. The scripts had exchanged 16.75 million shares, 10.26 million shares and 7.32 million shares respectively. The management of National Foods Limited (NATF +4.09pc) announced that its holding company would make a further equity investment of Rs300 million into the company by acquiring ordinary shares from the open market. NATF jumped to its upper cap soon after the announcement.The fertilizer (-35.84 points), cement (-30.47) and power generation and distribution (-20.64 points) sectors pulled the index in the red zone. On the other hand, Oil and gas exploration (+34.79 points), miscellaneous (+20.87 points) and banking (+17.37 points) sectors remained the top positive contributors to the index.Kot Addu Power Company Limited (KAPCO -3.29pc) meanwhile declared its financials for FY19. The company also announced a final cash dividend of Rs3 per share. Sales decreased by 7.71pc YoY, while earnings per share increased from Rs12.06 in FY18 to Rs14.90 in FY19.Dolmen City REIT (DCR -0.51pc) also released its financial performance for FY19. The company recorded an 8.81pc increase in total revenue, while its earnings per share appreciated by 36.12pc, from Rs2.27 in FY18 to Rs3.09 in FY19.The market may follow a bearish trend in the following sessions, as sentiments may remain inverse due to presence of International Monetary Fund (IMF) team. According to reports, Pakistan is likely to miss the IMF’s condition to refund Rs 75 billion to taxpayers in the first quarter despite an incentive by the global lender. The IMF had offered to soften the tough primary budget deficit reduction target if the country performs better in tax refunds.