Pakistan Stock Exchange (PSX) witnessed a directionless trading session on Wednesday, as benchmark kse-100 gained 102.25 points by the closing bell to clock at 42,204.03 points. On Wednesday, the index snapped two day abysmal performance since the beginning of the week and closed in the positive territory after oscillating between positive and negative zones. The benchmark KSE-100 Index started the day on a positive note, registering its intraday high at 42,350.23 after gaining 248.45 points, before losing momentum and falling to its day’s low at 42,030.61 after losing 71.17 points. The early momentum was supported by the rise in international in oil prices which lifted Exploration & Production sector. The oil has been swinging between gains and losses as the markets weighed the outlook for demand as coronavirus vaccines begin. On Wednesday, the global benchmark brent crude oil price rose over 1% and traded above $46/ barrel, while U.S WTI crude oil price surged past $49/barrel. However, the bear kept market rally in check as investors’ monitored developments on the political front, as opposition led Pakistan Democratic Movement (PDM) has ramped up the political temperatures in the country by decided to resign en masse from the National Assembly of Pakistan, its head MaulanaFazlurRehman confirmed Tuesday. During the session foreign investors remained net sellers of worth $0.72 million worth of equities. Local investors remained net buyers during the day, with individuals leading the buying chart, as they raked in $2.18 million worth of equities, followed by Banks with $1.86 million worth of equities and Insurance Companies with $1.70 million worth of equities. The volume at Kse-100 index increased from 194.7 million shares from the previous session to 244.32 million shares, while the over-all market volumes also surgedfrom 409.74 million shares in the previous session to 438.15million shares. The volume chart was led by TRG Pakistan Limited followed by Lotte Chemical Pakistan Limited and Unity Foods Limited. The scripsexchanged 33.73 million, 27.19 million and 26.15 million shares, respectively. Sectors, which lifted the index, were Oil & Gas Exploration Companies with 44 points, Technology & Communication with 20 points, Commercial Banks with 11 points, Fertilizer with 10 points and Pharmaceuticals with 8 points. Among the scrips, the most points added to the index was by TRG Pakistan Limited which contributed 30 points followed by Oil & Gas Development Company Limited with 24 points, Pakistan Petroleum Limited with 12 points, United Bank Limited with 11 points and HabibBank Limited with 10 points. However, sectors which dented the index were Power Generation & Distribution with 13 points, Tobacco with 10 points, Automobile Parts & Accessories with 6 points, Textile Composite with 6 points and Engineering with 5 points. Among the scrips, the most points taken off the index was by Hub Power Company Limited which stripped the index of 18 points followed by Pakistan Tobacco Company Limited with 9 points, Bank Al Habib Limited with 9 points, Systems Limited with 9 points and Maple Leaf Cement Factory Limited with 8 points. Global Markets: Stocks post modest recovery Global stocks surged on Wednesday despite mounting uncertainty over a possible Covid-19 stimulus package. Moreover investors also treaded cautiously staying mostly away from the markets as resurgence of Covid-19 increases concerns of a possible halt in economic activity across the globe, which is already reeling off of from the previous global lockdown measures. Meanwhile, with the time running out to agree on a Brexit deal, investors are hoping for a last minute brexit divorce deal. Most of the Asian stocks inched up on Wednesday, as investors struggled for a clear direction. Among the major markets, South Korea’s Kospiindex led the gains and added 2.02% to 2,755.47, followed by Nikkei 225 in Japan which rose 1.33% to 26,817.94. Following the trend, Hong Hong’s Hang Seng also added 0.75% in late-afternoon trade. However, Chinese stocks bucked the generally positive trend as benchmark index Shanghai composite fell 1.12% to 3,371.96. European stocks also posted gains across the region as market focus in the region centered on a last-ditch effort between the U.K. and EU to reach a post-Brexit trade deal. During the day, the pan-European Stoxx 600 index made gains of 0.7% higher with all sectors, bar technology, in positive territory. Among the region’s major bourses, Germany’s DAX led the gains and added 0.84%, followed by UK’s FTSE-100 and CAC-40 in France, each gained 0.46% and 0.17% respectively. In the U.S, Wall Street also treaded cautiously as traders weigh the prospects of new fiscal stimulus. The stocks were coming off of previous session’s strong gains after Wall Street’s concerns about the latest spike in Covid-19 cases were eased somewhat after the U.K. started its rollout of Pfizer’s vaccine on Tuesday.The news drove the Dow, S&P 500 and Nasdaq to record highs in the previous session. The Dow gained about 100 points on Tuesday, while the S&P 500 and Nasdaq advanced 0.3% and 0.5%, respectively. However, on Wednesday, the extended ongoing negotiations on the $916 billion expected stimulus package betwwen the Democrats and Republicans held back the momentum. During the early trading, the 30-stock Dow Jones Industrial Average traded just 28 points higher, while the S&P 500 also gained just 0.1%. The tech heavyNasdaq Composite, however, slipped 0.2%.