Stocks retreated on Wednesday ending a 13-day long winning streak which witnessed the longest Bull Run in 2020. Benchmark Kse-100 index lost 66.19 points by the end of trading session to close at 36,679.03 points. After taking a cumulative increase to 9.01% in the previous 13 trading sessions, the index kick started the financial year 2021 with a bang. However it ended the year’s longest rally to mark consolidation as investors resorted to profit taking. Analysts expected market to resist at 37,000 mark which may shed 500, to 1000 points in a pullback scenario. However, analysts predict a strong market performance over strong fundamentals and multiple construction packages introduced by the government to add stimulus to the covid-19 stricken economy. On Tuesday, the benchmark KSE-100 Index started the day on a positive note and touched an intra-day high at 36891.98 points after gaining 146.76 points. Since the Kse-100 index traded in a range of 250.61 points, the Kse-100 also touched an intra low of 36,638.07 points. The total volume traded for the index decreased from 323.24 million shares in the previous session to 227.61 shares. While the all share volume also receded from 466.25 million shares in the previous session to 328.39 million shares.The volume chart was led by Maple Leaf Cement Factory Limited, followed by Pak Elektron Limited and Unity Foods Limited. The scrips exchanged of 33.17 million, 27.11 million, and 21.79 million shares, respectively. Sector wise, Oil & Gas Marketing Companies led the losses, denting the index by 30 points, followed by Investment Banks by 24 points, Fertilizer by 24 points, Commercial Banks by 23 points and Food & Personal Care Products by 7 points. Among the scrips, most points taken off the index was by Dawood Hercules Corporation Limited which stripped the index of 21 points followed by Sui Northern Gas Pipelines Limited with 19 points, Millat Tractors Limited with 16 points, Meezan Bank Limited with 13 points and Fauji Fertilizer Company Limited with 10 points.However, Sectors that continue to push up index, Oil & Gas Exploration Companies with 17 points, Tobacco with 16 points, Cement with 6 points, Insurance with 5 points and Power Generation & Distribution with 4 points. While, among the scrips, the most points added to the index was by Pakistan Tobacco Company Limited which contributed 16 points followed by Pakistan Petroleum Limited with 15 points, Hub Power Company Limited with 13 points, Indus Motor Company Limited with 11 points and Pakistan Oilfields Limited with 10 points.. Global markets: After a day of losses, global stocks made retreated on the back of positive vaccine news from biotech company Moderna. Moderna’s potential vaccine to prevent Covid-19 may kickstart global stock rally, as potential Covid-19 vaccine will contain the virus spread and allow potential revival of economic activity.In Europe, stocks recovered Tuesday’s as sentiments were lifted across the board picking up the index across the region. The pan-European Stoxx 600 index rose 1.7%, with travel and leisure stocks surging more than 5% to lead gains as almost all sectors traded in positive territory. Among the major indexes, CAC-40 in France edged higher by 2.71%, while German DAX closed 2.30% higher. Ftse-100 in UK also traded 2.28% higher. Asian stocks also marked fresh rally over investors’ optimism betting on Covid-19 vaccine hopes. In Japan, the Nikkei 225 index advanced 1.59% to close at 22,945.50 to regional gains, while South Korea’s Kospi index edged higher by 0.84% to close at 2,201.88. Hang Seng index In Honk Kong remained flat by the day’s closing. However Chinese stocks retreated pulling down Shanghai composite by 1.56% to about 3,361.30. The Chinese stocks reacted to recent tensions between U.S and China after U.S. President Donald Trump said he signed legislation to impose sanctions on China in response to its interference with Hong Kong’s autonomy. Trump also said he signed an executive order ending Hong Kong’s special status with the U.S.In U.S, Wall Street also cheered recent development on covid-19 vaccine allowing stocks to build up on yesterday’s rally. The Dow Jones Industrial Average gained 326 points higher, or 1.2%. The S&P 500 gained 1.1% and the tech heavy Nasdaq Composite jumped by 1%. Wednesday’s gain put the S&P 500 just below breakeven for 2020.