Karachi: The Karachi Stock Exchange (KSE-100) index experienced a downturn, closing at 77,740 points after a day marked by light trading volumes and significant fluctuations.

According to AKD Securities Limited, the trading session began on a positive note but quickly became volatile, ultimately leading to a closing loss of 147 points. Compared to the previous session, trading volumes were notably lower. Currently, the index stands 17.3% above its 200-period moving average but is on a downward trajectory. The high volatility observed is greater than the average over the last ten sessions, and trend forecasting oscillators are indicating a bearish outlook.

Technical analysis suggests that the KSE-100 may find initial support near the 77,500 point level. If this support breaks, the index could potentially decline further towards 77,100 and 76,500 points. On the flip side, resistance is likely near 78,600 points, with potential upward movements targeting the 79,000 and 79,500 zones. Traders are advised to consider buying near the support zone while maintaining clearly defined risk parameters.