KSE-100 Experiences Significant Volatility in Recent Trading Session

Karachi, The KSE-100 index demonstrated considerable fluctuation during the last trading session, opening with a slight negative bias and experiencing extreme volatility throughout the day. The index reached a session high of 40 points above opening, plummeted to a low of 2,081 points below, and ultimately closed with a loss of 109 points at 73,754 points. Trading volumes were notably higher than the previous session.

According to AKD Securities Limited, the technical analysis shows the Moving Average Convergence Divergence (MACD) histogram remains in negative territory as it continues to trade below its signal line since crossing ten sessions ago. Since the cross, the index has fallen by 1.81%, with fluctuations ranging from a high of 76,249 to a low of 71,782. The Relative Strength Index (RSI) is slightly below the neutral mark at 49.77, indicating no strong momentum in either direction. The market’s technical setup suggests initial support near 73,400 points, with potential further decline towards 72,900 and 72,600 if this level breaks. On the upside, resistance might be encountered near 74,000 points, extending to 74,500 and 74,800. Investors are advised to maintain a cautious trading strategy and consider reducing positions at strength.