KSE-100 Faces Further Decline Amid Volatility

Karachi, The Karachi Stock Exchange's KSE-100 index experienced another day of decline, closing down by 681 points at 74,836 points after a volatile trading session. The index struggled to maintain earlier gains, reflecting the ongoing bearish sentiment in the market. Trading volumes were slightly down from the previous session, adding to the uncertainty.

According to AKD Securities Limited, the KSE-100 opened positively but couldn't sustain the momentum, oscillating between a high of 150 points and a low of 757 points before settling lower. The Moving Average Convergence Divergence (MACD) indicator remains bearish, having crossed below its signal line three sessions ago. Since the crossover, the index has fallen by 0.37%, fluctuating within a narrow band.

The current technical setup suggests that the index might find initial support around 74,800 points. If it breaks below this level, it could see further declines towards 74,500 and 74,100 points. On the flip side, any recovery will face resistance at around 75,100 points, with more substantial hurdles near 75,500 and 76,100 points. Market participants are advised to maintain a cautious approach and implement stop-loss strategies to mitigate risks.