Pakistan Stock Exchange (PSX) continued its retreat for the second day, as equity investors grappled with the roll over week and mounting fears as second wave of Covid-19 sweeps across the country. On Wednesday, PSX benchmark Kse-100 lost 194.97 points by the session’s closing to clock at 41,186.86 index level.The kse-100 index witnessed a volatile session, as index between the negative and positive territory as investors continued to book profit on attractive levels, as trading activity was knocked by the rollover week, wherein phenomenal activities of offloading the stocks purchased earlier at attractive valuation kicked in. The index also lost strength during the session as mounting covid-19 cases takes toll on investors’ confidence. The fears of second wave gripped the market as National Command and Operations Centre (NCOC) noted on Wednesday that the spread of the virus and the increased positivity ratio is 80 per cent in 11 major cities of Pakistan. The national body has made it mandatory to wear face masks in public places including bazaars, shopping malls, while using public transport and at restaurants. The rising number of cases has perturbed the investors, as another wave of Covid-19 raises a possibility of a March like sell -off at the stock market. During the day, the benchmark KSE-100 Index began the session on a positive note and touched its intraday high at 41,687.33 after gaining 305.5 points, however paring earlier gains, the index touched its intra low at 41,069.68 after losing 312.15 points. At kse-100, the index volumes decreased from 305.5 million shares recorded in the previous session to 258.48 million shares, while the overall market volumes also depleted from 481.05 million shares from the previous session to 368.42 million shares. The volume chart was led by Unity Foods Limited followed by Pakistan International Bulk Terminal Limited and Hascol Petroleum Limited. The scrips exchanged 60.25 million, 31.27 million and 26.88 million shares, respectively. Sectors which dented the index were Commercial Banks with 85 points, Cement with 67 points, Textile Composite with 44 points, Pharmaceuticals with 37 points and Oil & Gas Marketing Companies with 19 points. Among the scrips, most points taken off the index was by Lucky Cement Limited which stripped the index of 48 points followed by The Searle Company Limited with 39 points, United Bank Limited with 30 points, Habib Bank Limited with 27 points and Pakistan Oilfields Limited with 23 points. However, sectors which continued to resist the pressure were Power Generation & Distribution with 105 points, Automobile Parts & Accessories with 16 points, Glass & Ceramics with 13 points, Investment Banks with 12 points and Vanaspati & Allied Industries with 5 points. Among the scrips, most points added to the index was by Hub Power Company Limited which contributed 96 points followed by Pakistan Petroleum Limited with 19 points, Thal Limited with 13 points, Ghani Glass Limited with 13 points and Dawood Hercules Corporation Limited with 10 points. Global Markets: Covid-19 resurgence hits sentiments Global markets witnessed a massive sell-off on Wednesday, as investors fear that the latest surge in Covdi-19 cases may halt global economic recovery. Meanwhile, the uncertainty surrounding U.S presidential elections compounds risk-off sentiment. On Monday, stocks in Asia traded mixed, as investors treaded cautiously following mounting covid-19 threat and Oil price dip. South Korea’s benchmark Kospi index showed resistance and closed 0.62% higher at 2,345.26, as investors digested fresh economic data, as according to the advance estimate released by the Bank of Korea, South Korea’s real gross domestic product grew 1.9% in the third quarter as compared to the previous quarter. South Korea’s economy returned to growth in the third quarter, recovering from its sharpest contraction in more than 10 years, as the government pushed through stimulus measures and its biggest trading partners eased coronavirus restrictions. Moreover, Chinese stocks also soared during the day, with the Shanghai composite up 0.46% to around 3,269.24. However, Hong Kong’s Hang Seng index and Japan’s Nikkei 225 declined. In Europe, the markets also retreated across the continent, as investors continued to monitor the rapid spread of coronavirus. The pan-European Stoxx 600 dipped 2.8% by afternoon trading, having earlier hit its lowest point since June, with autos shedding 4.6% to lead losses as all sectors and major bourses slid into negative territory. Among the major markets, Germany’s DAX led the losses, which lost 4.38%, followed by CAC-40 in France and UK’s FTSE-100, each lost 4.06% and 3.33% respectively. The markets tumbled after Virus uptick led some countries to reinstate certain social distancing measures. German Chancellor Angela Merkel called on Wednesday for a limited lockdown. Meanwhile, according to the reports, France was poised to issue a stay-at-home order. In U.S, Wall Street witnessed massive confusion which triggered a sell-off with Dow Jones Industrial Average dropping 823 points during the early trade. The S&P 500 also dipped 2.9% while the techs heavy Nasdaq Composite traded 3% lower. The decline was sparked in part by the rising number of coronavirus cases and an inability by lawmakers to push forward on new fiscal stimulus. Meanwhile, Investors are also bracing for a potentially contested election result, which could trigger volatile trading in the markets.