Karachi: The KSE-100 index faced a challenging trading day, opening positively but quickly turning bearish, culminating in a loss of 1,722 points to settle at 80,188. The trading volume was higher compared to the previous session.

According to AKD Securities Limited, the index closed below the 5-day Simple Moving Average, with MACD indicators confirming a bearish trend as it moved below the signal line during the session. The Relative Strength Index was measured at 59.73, indicating potential upcoming volatility. The market analysis suggests that the index might find initial support near 79,700 points. Should it fall below this level, it could see further declines towards 79,400 and 79,000 points. Conversely, resistance may occur near 80,600 points, with potential increases up to 80,800 and 81,100 points.

Investors are advised to trade cautiously and consider taking profits to mitigate risks associated with the current market conditions.