Karachi: The KSE-100 index remains under significant pressure as it continued to record losses, closing the latest session down by 1,579 points at 78,539. This bearish trend reflects ongoing concerns and volatile market conditions affecting investor sentiment.

According to AKD Securities Limited, the trading session witnessed a downturn in activity with volumes decreasing from the previous session's 479 million shares to 376 million shares. Technical analysis highlights that the KSE-100 is now trading below its 21-day simple moving average (SMA), a bearish signal for market watchers. The Daily Parabolic Stop and Reverse (SAR) indicator remains above the index's current level, suggesting continued downward pressure.

The Relative Strength Index (RSI), currently at 49.59, indicates that the market is nearing a neutral stance, yet leans more towards the bearish side given it is below the pivotal 50 level. Technical support is initially seen around 78,100 points. Should the index break below this, it could test further lows towards 77,800 and 77,400 points. Conversely, resistance is found at 78,800 points, and overcoming this could push the index towards the 79,100 and 79,500 points range.

Investors are advised to trade cautiously and consider using strength in the market to reduce buying positions, as the overall technical setup suggests potential for further declines if current support levels are breached.