Karachi: The KSE-100 index experienced a substantial decline, closing with a loss of 3,507 points at 94,574 amid heightened volatility and a significant increase in trading volumes. The session saw the index peak at 1,740 points and hit a low of 3,899 points, marking a volatile trading day for investors.

According to AKD Securities Limited, the Moving Average Convergence Divergence (MACD) indicator has turned bearish, trading below its signal line and indicating potential further declines. The index's movement ranged from a high of 99,819 to a low of 94,181, presenting a fluctuating market scenario.

The technical analysis suggests initial support for the index could be found near the 94,100-point level. A breach below this threshold may result in additional downward pressure, pushing the index towards the 93,700 and 93,100-point levels. Conversely, resistance is anticipated initially around 95,000 points, with subsequent targets at 95,600 and 96,500 points. Market participants are advised to adopt a cautious trading approach and implement stop-loss strategies to mitigate risks.