Losing rally and diminishing confidence has sent stocks at kse-100 into a dry zone, as PSX landed flat on first trading session of the week. Kse-100 is losing steam as mounting uncertainty and jump in covid-19 deaths and cases have rattled investor sentiment. The index ended by gaining just 16 points to 33,283-level i.e. only 0.05% higher than previous closing. Investors stayed muted during most of the session since all eyes are set on MSCI rebalancing and policy rate cut. MSCI is scheduled to announce its decision on May 12 , whereas the State Bank of Pakistan would decide on the policy rate on May 16th. Losing 141.34 points in early trade, the KSE-100 Index recorded its intraday low at 33,126.15. However, the index managed to change its direction and crawled to its intraday high at 33,316.06 after gaining 48.37 points. Of the 91 traded companies in the KSE100 Index 44 closed up 46 closed down, while 1 remained unchanged. Total volume traded for the index was 87.69 million shares. All Share Volume increased by 110.23 million to 198.25 million Shares. Market Cap decreased by Rs.4.86 billion. Average traded value also increased 15pc, from $23.9 million to $27.4 million. The volume chart was led by WorldcallTelecom , followed by TRG Pakistan Limited and Unity Foods Limited,exchanging 62.43 million, 15.80 million and 15.15 million shares, respectively Sectors that propped up the index were Pharmaceuticals with 48 points, Technology & Communication with 25 points, Oil & Gas Marketing Companies with 12 points, Insurance with 8 points and Textile Composite with 7 points.Among the companies, most points added to the index was by Sui North Gas Pipeline which contributed 24 points followed by Searle company limited with 24 points, TRG Pakistan Limited with 13.95 points, GlaxoSmithKline Pakistan Limited with 13 points. FerozsonsLabortories Limited also gained 7.50 per cent among other companies after it announced that its subsidiary, BF Biosciences Limited (BFBL), is in negotiations to enter into non-exclusive license agreement with Gilead Sciences Inc for the manufacturing and sale of remdesivir (supply to Pakistan and 126 other countries) under Gilead’s Patient Solution Programme. Remdesivir has been granted emergency use authorization by US Food authority to treat hospitalized patients with severe COVID-19 disease. Sectors that weighed on index were Power Generation & Distribution with 28 points, Oil & Gas Exploration Companies with 25 points, Cement with 14 points, Chemical with 12 points and Commercial Banks with 5 points. Among the companies, most points taken off the index was by Hub Power Company Limited which stripped the index of 31 points followed by Pakistan Petroleum Limited with 16 points, Pakistan Oilfields Limited with 9 points, Oil & Gas Development Company Limited with 9 points and Pakistan State Oil with 8 points. Global Markets Stock markets around the globe showed mixed trend as investors continue to speculate over the possible revival of economic activity as countries begin to ease lockdown. At Wall Street, U.S equities sank on Monday as investors weighed the benefits of reopening economies and returning to pre-virus norms. Several American states have begun resuming regular business activity to avoid additional layoffs and keep firms afloat. Some view the move as necessary to avoiding a prolonged recession, while others see it as risking a dangerous second wave of coronavirus cases. The Dow Jones Industrial Average traded 227 points lower, or 0.9%. The S&P 500 dropped 0.6%. The Nasdaq Composite recovered its earlier losses, trading 0.1% higher as Amazon, Netflix, Alphabet and Apple all rose Concerns have gripped the investors and economists that opening up the economy may bring another wave of virus spread that will spook the sentiment and may become a fodder for an economic depression.Recent economic data already suggests the US is on its way to a prolonged slump. The Bureau of Labor Statistics reported on Friday that the unemployment rate spiked to 14.7% from 4.4% in April, with nonfarm payrolls sinking by 20.5 million. US joblessness now sits at its highest since World War II and is nearing peaks not seen since the Great Depression. Meanwhile, In Europe, stocks fell into negative territory as lockdown lifting continues throughout Europe amid fears of a second wave of coronavirus cases. Major benchmarks including CAC-40 in France, German DAX and FTSE-100 in England turned negative. Stocks in Asia traded mixed as hopes rise on economies reopening, even as U.S. reported record job losses in April.Hong Kong’s Hang Seng index led gains among the region’s major markets as it surged 1.53%.In Japan, the Nikkei 225 jumped 1.05%. Mainland Chinese shares, on the other hand, were mixed by the afternoon. The Shanghai composite lost 0.02% and falls flat while the Shenzhen composite dipped fractionally. South Korea’s Kospi also dipped 0.54%.