FLASHNEWS:

KSE-100 Index Achieves New High Amid Market Optimism

Karachi, The KSE-100 Index opened on a positive note and maintained a bullish trend throughout the last trading session, achieving a new intra-day high and closing with substantial gains. The index soared by 714 points to close at 73,799 points, although the trading volumes were slightly lower than in the previous session.

According to AKD Securities Limited, the KSE-100 Index breached the 74,000 mark during the session, posting an intra-day high of 74,144. The Relative Strength Index (RSI) indicated an overbought condition at 74.8, suggesting cautious trading ahead. The index is currently trading above its leading moving averages, signaling strong upward momentum, while the MACD remains below its signal line, indicating some underlying caution.

The technical outlook suggests the index may face resistance around the 74,000 points level initially, with potential targets at 74,300 and 74,500 points if upward momentum continues. Conversely, support is found near 73,400 points, with further downside potential towards 73,000 and 72,800 points. AKD Research advises investors to accumulate positions on weakness or near support zones, ensuring a strategic approach to market volatility.