Karachi: The KSE-100 Index exhibited a notable upswing, reaching significant highs as it surged by 1,353 points to close at a strong 149,971 mark. Despite this upward momentum, market participation saw a reduction, with trading volumes dropping by 18% compared to the previous session.

The index began the day on a solid note, reaching an intraday high of 1,448 points. However, technical indicators suggest caution is warranted. The MACD remains below its signal line, which it crossed six periods ago, indicating potential volatility.

Chart analysis reveals immediate support at 149,500. A breach below this level could lead to further declines towards 148,800 and 148,300. Conversely, resistance is expected at 150,400, with additional obstacles at 151,300 and 152,800. Analysts recommend a careful trading approach with risk strategies in place around the identified support areas.