Pakistan Stock Exchange (PSX) went on a recovery path on Tuesday, tracking gains in international stock markets as global investors responded to Pfizer’s Covid-19 Vaccine announcement. During the session, the benchmark kse-100 index gained more than 750 points during the early trade, but later closed with a 369.01 points gain at 41,153.05 level. The market began its ascension right after the opening bell, however due to lack of any positive triggers, the index succumbed to profit taking and pared earlier gains. The market responded to the announcement made by the U.S based biopharmaceutical company Pfizer, which raised hopes of revival of economic activity to Pre-Covid-19 level. The drug maker Pfizer announced on Monday that an early analysis of its coronavirus vaccine trial suggested the vaccine was robustly effective in preventing Covid-19, a promising development as the world has waited anxiously for any positive news about a pandemic that has killed more than 1.2 million people. The company said that the analysis found that the vaccine was more than 90 percent effective in preventing the disease among trial volunteers who had no evidence of prior coronavirus infection. During the session, the buying activity was primarily witnessed in exploration & production stocks followed by banks and oil & gas marketing companies. The fresh interest in the exploration and production sector was witnessed following the surge in crude oil prices on the twin hopes of a vaccine against COVID-19 and concerted action by the OPEC+ alliance to keep a tight grip on oil supply. Brent crude, the global benchmark, has jumped 9 percent to more than $43 a barrel since Monday. However, the local investors continued to tread cautiously fearing immediate Lockdown in the country as the number of cases continued to rise, which has led the government to impose smart lockdown in major metropolitan cities including Karachi, Islamabad and Lahore. At kse-100, the index volumes decreased from 148.29 million shares recorded in the previous session to 211.6 million shares, while the overall market volumes were recorded at around 356 million shares, increasing from the previous session’s volumes of 276.80 million shares. The volume chart was led by TRG Pakistan Limited followed by Pakistan Refinery Limited and Al-Shaheer Corporation Limited. The scrips exchanged 30.91 million, 23.53 million and 21.65 million shares, respectively. Sectors that lifted the index were Oil & Gas Exploration Companies with 177 points, Commercial Banks with 136 points, Textile Composite with 34 points, Fertilizer with 30 points and Oil & Gas Marketing Companies with 24 points. Among the scrips, most points added to the index was by United Bank Limited which contributed 66 points followed by Pakistan Petroleum Limited with 62 points, Oil & Gas Development Company Limited with 55 points, Pakistan Oilfields Limited with 50 points and Engro Corporation Limited with 24 points. However, the sectors which dented the index were Technology & Communication with 26 points, Tobacco with 13 points, Vanaspati & Allied Industries with 4 points, Insurance with 4 points and Leather & Tanneries with 3 points. Among the scrips, most points taken off the index was by TRG Pakistan Limited which stripped the index of 32 points followed by Pakistan Tobacco Company Limited with 13 points, Maple Leaf Cement Factory Limited with 5 points, Fauji Fertilizer Company Limited with 5 points and EFU General Insurance Limited with 5 points. International Markets: Covid-19 Vaccine hopes sparks global rally The announcement of Covid-19 vaccine breakthrough has fueled broad global equity rally, as investors’ cheer the rising possibility of revival of economic activity.