After record breaking 10 session rally, Kse-100 marked a day of consolidation as index fell flat to clock at 36,190.40 points on Friday. The index kept fluctuating between negative and positive territory as investors resorted to profit taking. On Friday, at Kse-100 the bull-run took a break and recorded modest volumes. However the week recorded 3.2% gain from the previous week amid record volumes. Irfan saeed, senior vice president at BMA Capital said it is time for all roads to return to financial markets as easing covid-19 lockdown has elevated hopes of revival of economic activity. Mr Saeed said although market will witness correction in the initial trading sessions of the next week, however he insisted that the strong rally in Exploration & Production, pharmaceutical, Banking and Technology sector will kick start fresh rally that may lift index past 38,000 mark. Mr Saeed said the market will also closely follow annual and quarterly result season, which may attract further capital into the market. He said the recent cut in the interest rate by State Bank of Pakistan and Economic refinancing scheme is yet to translate into the financial results of the companies, but the scrips will attract fresh interest due to better yields and immediate cut in the cost of capital. Bulls have returned to the bourse ever since the beginning of the new fiscal year 2021 as investors is welcome muted political noise and subsequently diminishing Covid-19 cases in Pakistan. Investors’ participation has lifted index by 33% since recording the lowest closing in march after Covid-19 pandemic wreaked havoc with global economies. The major buying spree was led by institutions and companies after government of Pakistan last week banned institutional investments in national savings schemes to redirect them to other parts of the financial sector. On Friday, Investment companies were net buyers of $2.2 million worth of shares, followed by Institutions with $0.4 million worth of shares.On Friday, the benchmark KSE-100 Index started the day on a negative note and touched an intra-day low at 36,003.18 points after losing 138.99 points. The Kse-100 closed at 36,142.17 points on Thursday. The total volume traded for the index receded from to 333.34 million shares in the previous session to 189.99 million shares. While the all share volume was recorded at 292.71 million shares, lower than previous session’s record breaking 467 million shares. The volume chart was led by Unity Foods Limited followed by Maple Leaf Cement Factory Limited and TRG Pakistan limited. The scrips exchanged of 27.98 million, 24.63 million, and 14.25 million shares, respectively.Sectors, which continue to lift the index, included Cement with 48 points, Commercial Banks with 40 points, Fertilizer with 16 points, Insurance with 5 points and Miscellaneous with 5 points. Among the scrips, the most points added to the index was by Lucky Cement Limited which contributed 22 points followed by National Bank of Pakistan with 17 points, ENGRO with 15 points, Maple Leaf Cement Factory with 10 points and Bank Al Habib Limited with 9 points. However, Sector wise, Oil & Gas Exploration Companies led the losses and dented the index with 20 points, followed by Pharmaceuticals with 18 points, Oil & Gas Marketing Companies with 12 points, Investment Banks with 4 points and Automobile Parts & Accessories with 3 points. Among the scrips, the most points taken off the index was by Pakistan Petroleum Limited which stripped the index of 13 points followed by TRG Pakistan Limited with 12 points, Oil & Gas Development Company Limited with 9 points, Pakistan State Oil with 9 points and GLAXO with 7 points. Global marketsGlobal stocks are battered following resurgence of covid-19 hotspots in U.S as investors continues to shy away from risk equities amid mounting concerns of extension in Covid-19 lockdown.In Europe, the major bourses were lifted after official data showed that French and Italian industry output rebounded more strongly than expected in May. Italian industrial production surged 42.1% in May from the previous month, as the country emerged from lockdown, outstripping economists’ median forecast of 22.8%. Moreover, French industry output climbed by 19.6% in May, surpassing economist expectations of a 15.1% rise.This comes after France only began lifting its comparatively strict lockdown measures on May 11. In the region, German DAX index surged by 0.75%, while CAC-40 in France edged higher by 0.67%. UK’s FTSE-100 index closed 0.55% higher.While, In Asia markets fell across the board as investors remained cautious due to the growing number of coronavirus cases around the world.Chinese markets led the losses as benchmark index Shanghai composite edged lower by 1.95% to close at 3,383.32, while Hong Kong’s Hang Seng Index fell 1.84%. In Japan, Nikkei 225 index dropped 1.06% to 22,290.81 while the South Korea’s Kospi index was down 0.81% at 2,150.25.