Kse-100 witnessed another winning streak on Wednesday, marking a rally for the 9th consecutive session as upbeat investor sentiments acted as a catalyst in boosting index to cross 35,500 mark. The index clocked at 35,694 points, in the intraday day trading after gaining 322 points. Bull-run has become a hallmark for PSX ever since the beginning of the fiscal year 2021. The investor’s interest has witnessed a recent surge over dying down political noise and multiple economic factors. However the recent market participation has been sector specific, as technology and cement stocks led the volumes. Technology Sector shares remained in the limelight as stocks including Avanceon Limited, NETSOL & TRG Pakistan Limited gained between 7-7.5% as export remittances from IT and ITES sector recorded a growth of 21% YoY in 11 months of Fiscal year 2020, fetching over $1bn of foreign exchange. Moreover, cement sector also attracted investors’ interest as last month’s reduction in policy rate by state bank of Pakistan to 7% is set to cut financial costs of the firms. Moreover, institutions continue to be among the major buyers of risk equities in the market-injecting additional capital after the government last week banned institutional investments in national savings schemes to redirect them to other parts of the financial sector. On Wednesday, Institutions were net buyers of $0.8 million worth of shares. However, mutual funds, and individuals topped the chart by being the net buyers of $1 million worth of equities. However, after the market’s closure, State bank of Pakistan announced to safeguard the businesses and households by reducing markup rate on investment under Temporary Economic Refinance Facility to 5% from the existing 7% and on Long Term Financing Facility for non-textile sector to 5% from 6%. The move will lift market sentiments and further extend rally into the 10th session on Thursday. On Wednesday, the benchmark KSE-100 Index started the day on a bullish note and continued to rally and touched an intra-day high right before the closing at 35,703.22 points after gaining 329.65 points. The Kse-100 closed at 35,373.35 points on Tuesday. The total volume traded for the index reduced from 241.07 million shares in the previous session to 205.99 million shares. While the overall market participation also slid to 317.69 million shares on Wednesday from 333.89 million shares in the previous session. The volume chart was led by TRG Pakistan limited, followed by Pak Elektron Limited and Maple Leaf Cement Factory Limited. The scrips exchanged of 33.34 million, 20.61 million, and 17.50 million shares, respectively. Sectors, which continue to lift the index, included Commercial Banks with 163 points, Automobile Assembler with 30 points, Technology & Communication with 29 points, Oil & Gas Exploration Companies with 21 points and Pharmaceuticals with 19 points. Among the scrips, the most points added to the index was by Habib Bank Limited which contributed 75 points followed by United Bank Limited with 35 points, Pakistan Petroleum Limited with 25 points, TRG Pakistan Limited with 24 points and Millat Tractors Limited with 20 points. However, Sector wise, the index was let down by Power Generation & Distribution with 13 points, Fertilizer with 7 points and Food & Personal Care Products with 7 points. Among the scrips, the most points taken off the index was by Lucky cement which stripped the index of 15 points followed by Hub Power Company Limited with 10 points, ENGRO with 6 points, Oil & Gas Development Company Limited with 6 points and NESTLE with 5 points. Global markets: Resurgence of covid-19 hotspots in US continues to fend-off investors from active rally as hopes of economic recovery is dampening with every passing day. In European stocks continue to retreat after a day of abysmal economic data by European commission which predicted Eurozone economy to contract by 8.7% in 2020 due to covid-19 outbreak. CAC-40 in France shed 0.91% during the trade, while German DAX index lost 0.37%. In UK, benchmark index FTSE-100 declined by 0.30% by the day closing. However, In Asia, Stocks recorded a mixed trend over mounting concerns over virus resurgence, as investors tread cautiously. Chinese stocks built on the solid run they’ve had so far this week as they led gains in the region for yet another day. Benchmark index Shanghai composite gained 1.74% to close at around 3,403.44. While, following the lead, Hong Kong’s Hang Seng index also closed higher by 0.59%. On the contrary, In Japan, the Nikkei 225 index lost 0.78% to close at 22,438.65, while South Korea’s, Kospi index extended its yesterday’s losses and closed 0.24% lower at 2,158.88. In U.S, Wall Street registered a cautious course but shed previous session’s losses, as Stocks climbed on Wednesday after a day of profit taking. The Dow Jones Industrial Average gained 208 points, or 0.8%. The S&P 500 climbed 0.8% while the tech heavy Nasdaq Composite gained 1%. The gains at wall street was led by tech stocks Apple and Microsoft stocks gained 2% and 1.7%, respectively, while Netflix and Alphabet both climbed at least 0.8%. The fresh rally followed Tuesday’s lackluster session when, S&P 500 and Nasdaq snapped a five-day winning streak, while the Dow slid nearly 400 points. The Global stocks are expected to react to escalating trade tensions between the world’s two largest economies U.S and China over threats by White House to target Chinese manufacturing and immigration. However, Covid-19 and its economic repercussions will continue to drive the future course of global equities.