Karachi: The KSE-100 index experienced significant volatility in its latest trading session, starting on a positive note but witnessing fluctuations throughout the day. The local bourse saw a peak rise of 662 points and a low drop of 49 points, ultimately closing with a gain of 107 points at 77,191 points.
According to AKD Securities Limited, the trading volumes during the session were lower compared to the previous session. The KSE-100 is currently positioned 15.7% above its 200-period moving average, indicating a relatively high volatility compared to the average of the last 10 trading sessions. Volume indicators show a balanced inflow and outflow, suggesting a neutral market sentiment. The Relative Strength Index (RSI) stands at 42.6, below the neutral threshold, hinting at potential buying opportunities near the support levels.
Market analysts at AKD Securities anticipate initial resistance for the KSE-100 around 77,700 points, with potential to push towards 78,200 and 78,500 if overcome. Conversely, should the index fall below its immediate support at 76,900 points, it could see further declines to 76,500 and 76,200 points. Investors are advised to consider buying near these support levels with clearly defined risks.