Stocks marked another day of recovery On Tuesday as market sentiments continued to be buoyed by favorable financial results of the companies. On Tuesday kse-100 advanced by 490.22 points to cross 40,000 mark, and closed at 40,292.82 points. The market has shown a recovery mode from the beginning of this week following a week of bearish trend on the index which was coupled with depleting volumes. The investor sentiments were strong through the session on series of economic and financial news. Further, the market sentiments also relied on robust corporate earnings and yesterday’s economic data release. The market momentum was led by Exploration & Production stocks primarily following yesterday’s profit taking, as investors resorted to buying on strength. Moreover, the rally was witnessed across the sectors following the economic data released by State Bank of Pakistan which revealed that country’s current account swung into a surplus in July 2020, recorded at $424 million, after posting a deficit of $100 million in June 2020. Country’s central bank said this was the fourth monthly surplus since last October. The benchmark KSE-100 remained in the positive territory throughout the session with Kse-100 index touching its intra high at 40,340.79 points after gaining 538.19 points. The index recorded a volume of 273 million shares, a surge of nearly 50% from 172.64 million shares recorded in the previous session , while the overall market volumes also jumped from 371.72 million shares recorded in the previous session to 535.07 million shares.The volume chart was led by Hascol Petroleum Limited, followed by Unity Foods Limited Right Shares and TRG Pakistan Limited. The scrips had exchanged 50.39 million, 37.71 million and 30.07 million shares, respectively. Sectors which lifted the index included Commercial Banks with 93 points, Oil & Gas Exploration Companies with 91 points, Power Generation & Distribution with 56 points, Chemical with 41 points and Oil & Gas Marketing Companies with 39 points. Among the scrips, most points added to the index were by Hub Power company limited which contributed 51 points followed by Habib Bank Limited with 34 points, United Bank Limited with 28 points, Oil & Gas Development Company Limited with 25 points and Petroleum Company Limited with 25 points.Sectors which weighed down the index were Investment Banks with 4 points and Tobacco with 3 points. Among the scrips, most points taken off the index were by Lucky Cement Limited which stripped the index of 10 points followed by Dawood Hercules Corporation Limited with 7 points, Frieslandcampins Engro Foods Limited with 3 points, Philip Morris (Pakistan) Limited with 3 points and National Bank of Pakistan with 2 points. Global markets: Global stocks traded mixed on Tuesday as investors closely followed the developments over high level trade talks between U.S and China. U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin had a call with Chinese Vice Premier Liu He to “discuss implementation of the historic Phase One Agreement between the United States and China,” according to a statement released by the Office of the U.S. Trade Representative.Meanwhile, investors also cheered positive developments over Covid-19 after Food and Drug Administration approved the use of convalescent plasma as a treatment for coronavirus patients, though scientists and public health officials have raised doubts over its effectiveness as a treatment. U.S. President Donald Trump’s administration is also reportedly considering fast-tracking an experimental vaccine from the U.K.In Asia, South Korea’s stocks led gains among the region’s major markets, with the Kospi index rising 1.58% to close at 2,366.73. While, the Japanese stocks also advanced on the day to lift benchmark index Nikkei 225 by 1.35% to 23,296.77. However, Chinese stocks, on the contrary, were mixed to eventually led Shanghai composite to close about 3,373.58 after shedding 0.36%. Hong Kong’s Hang Seng index also followed the trend in China and edged 0.26% lower to close at 25,486.22.European stocks posted some earlier gains as investors tracked U.S.-China trade talks and the latest moves in global markets. The pan-European Stoxx 600 index hovered around the flat line, with most sectors in positive territory. Travel and leisure stocks led the gains to climb 1.8%, while oil and gas shares were the worst performers, down about 0.9%. Among other major indexes Germany’s DAX and CAC-40 in France also closed in a positive territory. In UK, during the early trade benchmark index FTSE 100 also rose for a second straight session on Tuesday as a pledge by Washington and Beijing to stand by their Phase-1 trade pact lifted global sentiment, while technology firm Aveva jumped after signing a $5 billion takeover deal. But UK’s stock market failed to sustain gains, with selling pressure weighing down the index by 1.06%.In U.S, Wall Street witnessed a mixed trend with major stocks slightly down on Tuesday as Apple shares declined for the first time in six sessions and traders assessed the market’s recent run to all-time highs. The Dow Jones Industrial Average dropped 200 points, or 0.59% while S&P 500 and tech heavy Nasdaq Composite were just below the flatline. Earlier in the session, the S&P 500 hit another record high after China and the U.S. resumed trade talks. During the session Apple stocks edged lower by 1.9%, giving back some of its blistering rally into a record valuation. However, that loss was slightly offset by gains in Facebook, Alphabet and Microsoft.