Stocks continued to witness uncertain trade at Pakistan Stock Exchange (PSX), as bulls and bears continued to lock horns amid mixed news flow during the day. On Thursday, PSX benchmark Kse-100 settled at 40,068 index level, after losing 75.80 points, despite the earlier surge. On Thursday, the index witnessed early gains, following Wednesday’s recovery, as market digested series of positive news flow during the day. The sentiments were lifted as G20 decided to extend its debt relief to help poor countries fight the Covid-19 pandemic by another six months. Originally approved in May 2020, the Debt Service Suspension Initiative (DSSI) was supposed to run till December 2020. Pakistan was approved under the initiative and $1.8 billion of its external debt service payments falling due till December were rescheduled under it. With the new announcement made on Wednesday, all debt service payments owed to bilateral creditors from December to June 2021 will also be rescheduled. The move by the elite club of 20 countries will help Pakistan’s cash strapped economy to avoid liquidity crunch. Moreover, market also cheered an appreciation of Rupee against the dollar. The recent appreciation of the currency came after SBP allowed rupee to depreciate massively in the inter-bank market after finalisation of an agreement with the IMF for a loan programme on May 12, 2019. The IMF has asked Pakistan to end state control of the rupee and let the currency move freely to find its equilibrium against the US dollar and other major world currencies. Also, the World Bank, which finances some of the infrastructure and social safety net projects in Pakistan, has supported the idea of leaving the rupee free from state control in a bid to give boost to exports and fix a faltering economy. However, the earlier gains were reversed after bears regained the ground as uncertainty over political noise and speculations over upcoming Financial Action Task Force (FATF) review continues to haunt equity investors. During the day, Investors resorted to late selling pressure as experts claim, equity investors will continue to monitor the developments over in the following weeks, after hopes of a probable exclusion of Pakistan from FATF grey list were dented, following Asia-Pacific Group (APG)’s recent move to retain Pakistan on its “Enhanced Follow-Up” list for a meagre progress on technical recommendations of the Financial Action Task Force (FATF) to fight money laundering and terror financing. “Pakistan will remain in enhanced (expedited) follow up, and will continue to report back to the APG on progress to strengthen its implementation of AML/CFT measures,” concluded the APG in its 12-page report. Moreover, risk of rising political chaos weighed down the sentiments as Pakistan Democratic Movement (PDM), a coalition of nearly dozens of political parties geared for October 16, 2020 in the city’s Jinnah Stadium. During the day the benchmark KSE-100 Index oscillated between negative and positive territory touching its intraday high at 40,533.67 after gaining 389.38 points. However, later failing to sustain the momentum the index fell 137.83 points to record its intraday low at 40,006.46 losing. The index volumes made some recover during the session as market participation at kse-100 increased from 156.6 million shares recorded in the previous session to 211.93 million shares , while the overall market volumes also surged from 232.8 million shares from the previous session to 324.79 million shares. The volume chart was led Hascol Petroleum Limited, Pakistan International Bulk Terminal Limited and Unity Foods Limited. The scrips exchanged 30.64 million, 17.70 million shares and 17.47 million shares, respectively. Sectors which dented the index were Cement with 27 points, Commercial Banks with 25 points, Oil & Gas Marketing Companies with 14 points, Technology & Communication with 14 points and Textile Composite with 14 points. Among the scrips, most points taken off the index was by Habib Bank Limited which stripped the index of 34 points followed by TRG Pakistan Limited with 17 points, Muslim Commercial Bank with 14 points, Kohinoor Textile Mills Limited with 13 points and Lucky Cement with 12 points. Sectors which lifted the index were Fertilizer with 27 points, Chemical with 22 points, Food & Personal Care Products with 14 points, Transport with 6 points and Engineering with 6 points. Among the scrips, most points added to the index was by Engro Polymer & Chemicals Limited which contributed 23 points followed by Bank Al Falah Limited with 11 points, NESTLE with 10 points, Fauji Fertilizer Bin Qasim Limited with 10 points and Fatima Fertilizer Company Limited with 8 points.