Pakistan Stock Exchange (PSX) witnessed another volatile trading session on Wednesday, as benchmark KSE-100 gained 136.86 points by the closing bell to clock at 45,544.19level. On Wednesday, the market oscillated between negative and positive territory as investors sentiments were tested bypressure led by shorter roll-over week and an outstanding amount of over Rs35 billion, as well as rising covid-19 cases in the country which has resulted in the strict smart lockdown measures by the government. However, recently proposed Refinery policy remained in focus for the participants as government plans to provide magnanimous incentives to encourage developments and investments in the Refinery sector, with investments of Rs. 10 billion, as per reports, are already in the pipeline. During session the Exploration & Production sector, which led the Index in the previous session remained negative throughout the session on an account of an overnight fall in international oil prices by almost 7%. The energy bulls in the last session lifted the market owing to rumor doing the round, that payment to IPPs on account of energy sector circular debt is around the corner, which is expected to help improve the liquidity of the energy chain. The Index traded in a range of 338.06 points or 0.74 percent of previous close. The benchmark KSE-100 Index recordedits intraday low at 45,255.55 after it lost 148.34 points. The index, however, recovered its losses and posted its intraday high at 45,593.61after gaining 186.28 points. The volume at KSE-100 receded from 277.36 million shares recorded in the previous session to nearly 272.53 million shares, while the all-share volume also reduced from 440.99 million shares recorded in the previous session to 409.68 million shares. Market Capital increased by Rs.15.95 billion, while total value traded increased by 3.52 billion to Rs.25.61 billion. The volume chart was led by TRG Pakistan Limited followed by Pakistan Telecommunication Company Limited and Byco Petroleum Pakistan Limited. The scrips exchanged 54.57 million, 37.22 million and 29.22 million shares, respectively. According to the National Clearing Company of Pakistan Limited (NCCPL) foreign investors were net buyersof worth $4.07 million worth of equities. Among local investors, Brokers and Mutual Fundsled the buying chart, and mopped up $2.21 million and $1.36 million worth of equities. However Individuals, Insurance Companies and companies led the selling chart and offloaded $3.54 and $2.2million and $2 million worth of equities. During the session, sectors which lifted the index were Technology & Communication with 123 points, Automobile Assembler with 29 points, Chemical with 27 points, Cement with 25 points and Commercial Banks with 19 points. Among the scrips, the most points added to the index was by TRG Pakistan which contributed 119 points followed by Millat Tractors Limited with 16 points, Attock Refinery Limited with 15 points, Pakistan Telecommunication Company Ltd with 14 points and Hub Power company Limited with 13 points. However, sectors which continued to dent the index were Oil & Gas Exploration Companies with 73 points, Fertilizer with 20 points, Oil & Gas Marketing Companies with 17 points, Investment Banks with 5 points and Food & Personal Care Products with 5 points. Among the scrips, the most points taken off the index was by Oil &Gas Development Company Limited which stripped the index of 46 points followed by ENGRO with 29 points, Pakistan Oilfields Limited with 14 points, Pakistan Petroleum Limited with 13 points and Systems Limited with 9 points.