Kse-100 index shed 136 points on the last trading session of the week on Friday amid market correction during closing end of the session. The index witnessed an early bull run and gained 300 points, however failing to sustain the momentum, it capitulated to the selling pressure as investors resorted to profit-taking. The index has been on upward trajectory during the week, and added another 771 points to take the index beyond 40k psychological resistance and ending the week at 40,030 points, said a report issued by BMA capital management Ltd. It said the Bull-run was continued primarily due to fast-paced reduction in COVID-19 cases across the country. As a result of continued reduction in active COVID cases and low infectivity ratio, the government has announced to end bans and restriction on all sorts of businesses activities and educational institutions by mid-Sept’20. Low interest rate environment coupled with steep “flattening of the curve” made a perfect recipe for continue optimism in the market. Irfan Saeed, Senior Vice President BMA Capital management Ltd, said the market has entered an overbought territory and the major rally is being led by individuals, while institutions, mutual funds and foreign investors continued to be net sellers. Mr Saeed said since major volumes were witnessed in the penny stocks which surged to historic levels, it indicates that market may continue to remain in the correction mode and index may further slide. The Kse-100 index has been accumulating gains ever since the start of the fiscal year 2021, and since then the index has witnessed a strong rally and delivered a return of over 16% till date. Continuing the buying spree, individuals remained net buyers of worth $7.4 million worth of equities on Friday, taking the week’s total to $32.5 million worth of shares. However, institutions and Mutual Funds remained net sellers on the day, with the former selling $3.7 million worth of shares while the later sold $2 million worth of shares. The foreign investors were also the net sellers of worth $1 million worth of equities.The KSE-100 Index witnessed volatile activity throughout the day, registering its intraday high at 40,465.95 and intraday low at 39,971.11. The index recorded a volume of 368.85 million shares while the overall market volumes contracted from 826.77 million shares in the previous session to 727.90 million shares. The volume chart was led by Worldcall Telecom, followed by Pakistan International Bulk Terminal Ltd and Unity Foods Ltd. The scrips had exchanged 144.41 million, 52.63 million and 50.41 million shares, respectively.Sectors which added pressure and dented the index included Commercial Banks with 68 points, Oil & Gas Exploration Companies with 43 points, Cement with 30 points, Power Generation & Distribution with 30 points and Fertilizer with 21 points. Among the scrips, the most points taken off the index was by United Bank Limited which stripped the index of 40 points followed by Habib Bank Limited with 33 points, Hub Power Company Limited with 26 points, Muslim Commercial Banks with 17 points and Pakistan Oilfields Limited with 15 points. While, the sectors which continues to resist the selling pressure and lifted the index included Textile Composite with 23 points, Transport with 16 points, Insurance with 15 points, Engineering with 9 points and Cable & Electrical Goods with 7 points. Among the most points added to the index was by Meezan Bank Limited which contributed 21 points followed by Pakistan International Bulk Terminal Limited with 16 points, Kohinoor Textile Mills Limited with 15 points, IGI Holdings Limited with 13 points and Pak Suzuki Motor Company Limited with 9 points. Global markets: Global stocks were mixed over rising concerns over escalating Sino-U.S tensions following U.S President Donald Trump’s n executive orders to address “the threat posed” by Chinese apps TikTok and WeChat. As part of the order, any transaction with ByteDance and Tencent, the parent companies of TikTok and WeChat, respectively, will be barred in 45 days. The move was followed by Washington’s decision to sanction Hong Kong Chief Executive Carrie Lam and other senior officials of the city state over undermining Hong Kong’s autonomy. This comes weeks after China imposed a controversial national security law on Hong Kong, which critics say threatened its freedoms.Meanwhile, investors’ sentiments also continued to dampen amid stalemate on over $ 1 trillion U.S stimulus package, which threatens an event of another major sell-off- if U.S lawmakers failed to agree on a rescue bill.. In Asia stocks fell across the board however few bucked up the trend. Hong Kong’s Hang Seng index led the losses among the major bourses, dipping 1.6% to close at 24,531.62. The index fell after Shares of Chinese tech firms listed in the city tumbled. Chinese tech juggernaut Tencent plunged 5.04% while Semiconductor Manufacturing International Corporation’s stock in Hong Kong dropped 8.7%. Chinese stocks also recorded losses, with the Shanghai composite down 0.96% to approximately 3,354.04 while Japan’s Nikkei 225 edged lower by 0.39% to close at 22,329.94. However, Kospi index in South Korea advanced 0.39% higher at 2,351.67.In Europe, stocks posted gains across the board which was later capped by mounting tensions between U.S and China. The regional gains were led by with telecoms stocks with a 0.9% rise, while basic resources shares were the worst performers, falling 1.4%. Among the major markets, Germany’s DAX advanced 0.66%, while FTSE-100 and CAC-40 in France fell flat.In the U.S, Wall Street struggled to look for a direction as investors continue to speculate over ongoing Stimulus negotiations while rising U.S- China rifts continue to weigh on market sentiments. The Dow Jones Industrial Average traded over 100 points lower while the S&P 500 traded flat. The tech heavy Nasdaq Composite also traded nearly 50 points lower.