Karachi, The KSE-100 index closed down 150 points at 70,333, continuing its recent downward trajectory. Trading volumes also saw a decrease, highlighting investor caution amidst mixed market signals. Analysts expect the index to test previous highs and lows, indicating a potential for both recovery and further declines in the near term.

According to JS Global, the market witnessed a drop in trading volumes from 548 million to 442 million shares, reflecting investor reticence. The KSE-100 is anticipated to revisit its previous day's high of 70,725, with a break above this level possibly leading to a range between 71,260 and 71,520, and potentially reaching up to 72,245. Conversely, a fall below the previous day’s low of 70,037 could signal the start of a corrective trend, with a downside target set at 68,300.

Market indicators remain mixed, offering no clear direction for traders, prompting the recommendation for investors to remain cautious and await more favorable buying opportunities. The established support and resistance levels are set at 70,005 and 70,693, respectively.