Kse-100 index witnessed another volatile session on the last trading day of the week ahead of Eid holidays as benchmark oscillated between negative and positive territory to clock at 39,258 points after gaining 422.17 points. Stocks kick started the day with a heavy selling as investors resorted to profit taking following days of bull-run and entered negative zone, however after a brief period, the kse-100 pared its losses and led bulls to take it up 39,000 mark. Thursday’s closing resulted in four day rally taking a cumulative increase of 1650.82 points or 4.39 %, while, so far in FY21, the index gain has been 4,836.52 points or 14.05%. Moreover, ever since the market has picked up the pace in the last four weeks, the kse-100 has churned out a decent return of more than 16% from its low of 33,438. The active market participation continues to build upon series of economic factors and the results season which has been ticking higher the performance meter against the odds. However, the market is cheering the recent increase in State Bank of Pakistan (SBP)’ s reserve following its announcement that it received $505.5 million from the World Bank to sustain itself in the fight against the cocid-19 that has adversely affected the economy of the country. Moreover, investors welcomed Pakistan’s Senate move, which approved clause wise Anti-Terrorism (Amendment) Bill, 2020 and United Nations Security Council (Amendment) Bill, 2020, which aims to fulfill the obligation of the Financial Action Task Force (FATF) to exclude Pakistan name from the grey list.The benchmark KSE-100 Index marked smooth dips and surged again during the session, registering its intraday high at 39,270.46 after gaining 434.19 points. The index recorded a volume of 261.49 million shares, while the overall volumes volumes contracted from 508.22 million shares in the previous session to 368.70 million shares The volume chart was led Pakistan Int’l Bulk Terminal Ltd, followed by TRG Pakistan Ltd and Pak Elektron Ltd. The scrips exchanged 43.31 million, 27.91 million and 18.07 million shares, respectively.The sectors which lifted the index included Cement with 75 points, Commercial Banks with 70 points, Fertilizer with 54 points, Pharmaceuticals with 51 points and Automobile Assembler with 45 points. Among the crips, the most points added to the index was by Lucky cement limited which contributed 37 points followed by The Searle Company Limited with 35 points, the Hub Power Company Limited with 30 points, TRG Pakistan Limited with 28 points and Engro Corporation Limitedwith 25 points. However, Sectors which added pressure on the index Food & Personal Care Products with 8 points, Oil & Gas Exploration Companies with 2 points, Textile Composite with 1 points, Chemical with 1 points and Vanaspati & Allied Industries with 1 points. Among the scrips, the most points taken off the index was by Pakistan Petroleum Limited which stripped the index of 22 points followed by Oil & Gas Development Company Ltd with 11 points, National Foods Limited with 5 points, Bank Al Falah Limited with 4 points and Adamjee Insurance Company Limited with 4 points.Global markets: Global stocks took a plunge and investors’ confidence dampened after U.S. GDP plunged by a record 32.9% in the second quarter defying market expectations. The data from the Bureau of Economic Analysis dented any hopes of economic revival as it exposed the devastating impact of covid-19 on world’s largest economy. Business have ground to a halt during the pandemic lockdown in the spring of this year, and America plunged into its first recession in 11 years, putting an end to the longest economic expansion in US history and wiping out five years of economic gains in just a few months. In Europe, U.S economic data sent shockwaves across the stock markets as investors struggled to stand their ground. The banking stocks shed more than 4% as most sectors and all major bourses traded in negative territory. Germany’s DAX index plunged 4.34% while UK’s FTSE-100 closed 2.31% lower. CAC-40 in France also lost its ground, and lost 2.13%.Asian stocks also followed the course and took a hit as most of the markets closed in a negative territory. Hong Kong’s Hang Seng index led the losses and slipped 0.69% to close at 24,710.59. In Japan, the Nikkei 225 shed 0.26% to close at 22,339.23 while Chinese stocks also recorded losses with benchmark index Shanghai composite losing 0.23% to about 3,286.82. However, bucking up the trend South Korea’s Kospi index managed to close in a positive territory after it advanced 0.17% to close at 2,267.01. In the U.S, stocks pared yesterday’s gains as Wall Street reacted to record slump in U.S GDP data. The Dow Jones Industrial Average traded 300 points lower, or 1.1%, while the S&P 500 slid 0.8%. The tech heavy Nasdaq Composite dropped 0.2%. However, investors will now awaits a breakthrough on Republican led $1 trillion coronavirus aid bill which has reached an impasse, as Democrats have criticized the package’s limitations compared to a $3 trillion proposal that passed the House of Representatives in May. The rescue bill is expected to take a longer negotiation process before it passes, but if the impasse continues to put both parties at odds, another round of stock market crash is expected.