Pakistan Stock ExchangePakistan Stock Exchange (PSX)posted modest gains on Wednesday as equity investors witnessed a volatile trading session due to series of news-flow throughout the day. The benchmark kse-100 gained 109. 35 points by the closing bell to clock at 43,360.19 index level. On Wednesday, the market witnessed selling pressure at scattered points throughout the session as investors booked profit on their gains. The selling pressure was primarily witnessed in cement, technology and refinery stocks, which have been the major contributors to the index off late. Moreover, Cement sector witness major selling during the day as investors responded to an inquiry report of the Competition Commission of Pakistan (CCP) finalised on Tuesday, which has found massive profit-taking due to cartelisation by the cement sector. The CCP inquiry was held from May to August 2020, and the analysis of the data also showed that the earning per share (EPS) of cement companies during the July-Sept 2020 quarter increased significantly compared to the same period last year.The report has highlighted that during this period EPS of Bestway Cement increased by 502 per cent, Lucky Cement by 133pc, D.G Khan Cement by 75pc, Cherat Cement by 191pc, Fauji Cement by 138pc, Maple Leaf Cement by 115pc and Kohat Cement by 473pc, etc. However, the index was primarily lifted Exploration & production and fertilizer sectors after yesterday’s profit booking; E&P reacted positively to the increase in international oil prices, while fertilizers took cue from the recent uptick in urea offtake. The global benchmark Brent crude oil traded above $50.5/ barrel- a 9-month high, ascrude oil continue to go higher due to the shrinking value of U.S dollar and hopes of US stimulus package that is expected set-off global oil demand. The index oscillated both ways on Wednesday, touching its intraday low of 43,183.77 after losing 67.07 points right after starting day at 43,351.72. However, reversing its earlier losses, the index managed to touch intraday high of 43,556.06 after gaining 305.22 points. According to the National Clearing Company of Pakistan Limited (NCCPL), foreign investors remained net buyers of worth 2.09 million worth of equities. While, among local investors, the selling table was led by Individuals which offloaded $2.197 million worth of equities, followed by Companies which sold $1.28 million worth of equities. However, the buying table was led by Insurance Companies, which bought $1.09 million worth of equities, followed by Brokers which raked in $0.31 million worth of equities. The volume at Kse-100 index diminished from 405 million shares from the previous session to 252.47millionshares, while the over-all market volumes also depleted from 702 million shares in the previous sessionto 433 million shares. The volume chart was led by TRG Pakistan Limited followed by Pakistan limited aandHascol Petroleum Limited. The scrips exchanged 29.14 million, 28.20 million and 22.89 million shares, respectively. Sectors, which lifted the index were, were Oil & Gas Exploration Companies with 90 points, Technology & Communication with 49 points, Fertilizer with 47 points, Textile Composite with 20 points and Commercial Banks with 18 points. Among the scrips, the most points added to the index was by Oil &Gas Development Company Limited which contributed 55 points followed by Systems Limited with 46 points, ENGRO with 38 points, Pakistan Petroleum Limited with 27 points and Bank Al HabibLimited with 23 points. However, sectors which subdued the index were Cement with 53 points, Power Generation & Distribution with 22 points, Oil & Gas Marketing Companies with 21 points, Automobile Assembler with 17 points and Refinery with 11 points. Among the scrips, the most points taken off the index was by United Bank Limited which stripped the index of 18 points followed by Lucky Cement Limited with 13 points, DGKhan Cement with 12 points, Maple Leaf Cement Factory Limited with 11 points and Millat Tractors Limited with 10 points. Global Markets: Stocks traded mixed as U.S stimulus&Brexit remained in focus Global stock markets continued to witness a mixed trend on Wednesday, as investors weigh in stalled U.S. fiscal stimulus talks and Brexit negations ahead of approaching deadline. In Asia, most of the stocks advanced following an overnight bounce at Wall Street, as optimism grew over the prospect of more stimulus.Among the major markets, Hong Kong’s Hang Seng index led the regional gains and traded 0.97% higher, as of its final hour of trading. South korea’sKospi index and Japan’s Nikkei 225 also followed the trend and increased 0.54% and 0.126% respectively. In China, stocks, however traded mixed on the day, but by the closing bell the benchmark index Shanghai compositeclosed slightly below the flat line at 3,366.98 Following overnight positive trend at Wall Street and subsequently in Asian markets, most of the European stocks also traded higher, however, post-Brexit trade deal negotiations continued to dominate market attention.On Wednesday, European Commission President Ursula von der Leyen said that there had been progress in talks over a post-Brexit trade agreement with the U.K. and the next few days would be “decisive,” offering a boost for stocks early in the session. The pan-European Stoxx 600 advanced 0.9% by early afternoon trade, with autos adding 2.5% to lead gains as all sectors and major bourses entered positive territory. Among the major markets, Germany’s DAX led the gains, and added 1.12%, while UK’s FTSE-100 also climbed 0.54%. However, CAC-40 in France bumped the trend, and lost 0. 12%. In U.S, stocks at Wall Street also cautiously traded higher, as investors followed ongoing Congress negations on U.S stimulus package. Certain segment of US media reported that the Congress won the brink of a $900 billion rescue deal that would include a new round of direct payments to consumers. However, that package would exclude a liability shield for businesses and state and local aid.The report came after House Speaker Nancy Pelosi, Senate Majority Leader Mitch McConnell, Senate Minority Leader Chuck Schumer and House Minority Leader Kevin McCarthy met Tuesday to strike a bipartisan aid deal. During the early trading hours, 30-stock Dow Jones Industrial Average traded 47 points lower. However, bucking up the trend, S&P 500 and the tech heavyNasdaq Composite climbed 0.19% and 0.14%.