Pakistan Stock Exchange (PSX)witnessed another sharp retreat on Tuesday, as benchmark kse-100 index fell 426.82 points to clock at 42,906.94level. On Tuesday, the benchmark index witnessed a dull start to the trading session, but selling pressure before the closing bell dented index to plunge below 43,000 level to mark its intraday low at 42,757.49 after it lost 576.27 points. The selling pressure was primarily led by trading activity which has been knocked by the rollover week, wherein phenomenal activities of offloading the stocks purchased earlier at attractive valuation has kicked in. Moreover, the index was also weighed down following a retreat in heavy weight Exploration & Production sectors. Global crude oil prices continued to be subdued following Monday’s shock plunge after oil bears reacted to news of a fast-spreading new coronavirus strain that has shut down much of the United Kingdom, which fuelled worries over a slower recovery in fuel demand amid tighter restrictions in Europe. On Tuesday Brent crude slid 1.02% to $50.39 a barrel while US WTI crude traded at $47.37/ barrel. Meanwhile, owing to rising uncertainty at the borders following simmering tensions between Indian and Pakistan, market participants resorted to offload their equity holdings to avoid any risks. Investors’ speculated over Foreign Minister Shah MahmoodQureshi’s statement, that he had credible information that India was planning a surgical strike against Pakistan to divert attention from its internal affairs and that it was trying to seek “tacit approval” for the move from its “partners”.Terming it a “serious development” he further elaborated that India is already “trying to seek tacit approval” from what Qureshi said were “important players who they consider to be their partners”. During the session, the volume at Kse-100 index decreased from 243.63 million shares from the previous session to 201.17 millionshares, however, the over-all market volumes surged from 516.46million shares in the previous sessionto 561.855 million shares. The volume chart was led by Worldcall Telecom followed by Invest Capital Investment Bank Limited and TRG Pakistan Limited. The scrips exchanged70.79 million, 30.80 million and 23.63 million shares, respectively. Sectors, which dented the index were Commercial Banks with 89 points, Oil & Gas Exploration Companies with 61 points, Technology & Communication with 50 points, Automobile Assembler with 33 points and Cement with 32 points. Among the scrips, the most points taken off the index was by TRG Pakistan Limited which stripped the index of 41 points followed by Pakistan PetroleumLimited with 30 points, Oil &Gas Development Company Limited with 25 points, HabibBank Limited with 25 points and United Bank Limited with 24 points. However, sectors which resisted the selling pressure were Glass & Ceramics with 13 points, Fertilizer with 1 points and Oil & Gas Marketing Companies with 1 points. Among the scrips, the most points added to the index was by Fauji Fertilizer Company Limitedwhich contributed 16 points followed by Ghani Glass Limited with 13 points, Shell Pakistan Limited with 8 points, Pakistan State Oil with 8 points and Bank Al Habib Limited with 7 points. Global Markets: New Covid-19 strain weighs on investor sentiments Developments surrounding the coronavirus pandemic continued to weigh on investor sentiment, following the discovery of a new Covid strain in the U.K. that has prompted tighter lockdowns and travel restrictions across Europe. On Tuesday, Global stocks witnessed a mix trend with Asian and U.S markets posting losses, however European stock markets leapt forward. In Asia, Chinese led the regional losses on the day, as the benchmark index Shanghai composite shed 1.86% to 3,356.78 followed by South Korea’s Kospi index which dropped 1.62% to close at 2,733.68. Following the trend, Japan’s Nikkei 225 also declined 1.04% to close at 26,436.39, while Hong Kong’s Hang Seng index plunged 0.71% to close at 26,119.25. In Europe, the stock markets posted partial recovery on Tuesday, following a brutal sell-off in the previous session. The pan-European Stoxx 600 traded 0.7% higher, while Germany’s DAX and France’s CAC-40 indexes roseover 1% each. UK’s FTSE 100 also attempted some recovery, as the index rose 0.49% after it pared early losses. Among the major stocks, Banking stocks led the gains which added up to 1.2%, with Barclays and Lloyds both climbing nearly 3% to lead the sector. In U.S, Wall Street witnessed a directionless trading, despiteCongress’ approval of a long-delayed coronavirus relief package worth $900 billion.Congress attached the bailout package to a $1.4 trillion measure to fund the government through Sept. 30. President Donald Trump is expected to sign it into law in the coming days, weeks before he will leave office. During the early trading hours, S&P 500 traded flat, while the 30-stock Dow Jones Industrial Average, dipped 132 points. However, the tech-heavy Nasdaq Composite rose 0.5%, which was supported by supported by a jump in Apple stocks.