Karachi: The KSE-100 index, a benchmark for market performance in Pakistan, is poised for potential gains after closing marginally higher at 78,801 points, reflecting a modest increase of 8 points day-on-day. The market showed a decrease in trading volumes, moving from 804 million shares in the previous session to 682 million shares.

According to JS Global, the technical outlook for the KSE-100 index remains positive, with expectations of revisiting and potentially breaking past Friday’s high of 79,174 points. Such a move could pave the way toward 79,442 points, with an extended target of 80,871 points. The index finds initial support at the 30-day moving average (DMA) of 78,630 points, with further backing at the 50-DMA of 78,272 points. The rising trend in both the Relative Strength Index (RSI) and Stochastic Oscillator underlines a bullish sentiment, supporting a ‘Buy on dips’ strategy with a suggested stop-loss below the 50-DMA.