KARACHI: The KSE-100 Index soared to unprecedented levels, closing with a robust gain of 1,248 points at 125,627, according to a press release by AKD Securities Limited. This surge comes as the index maintained a consistent upward trajectory throughout the trading session, peaking at an intraday high of 1,370 points.

The trading volume saw an 18% increase compared to the previous session, indicating heightened market activity. The index concluded just 2.8% shy of the upper Bollinger Band, with the Bands currently 10.28% narrower than usual, which suggests a reduction in market volatility.

Over the past ten sessions, the index has experienced a mixed performance, with four positive and six negative closings, resulting in a net outcome of two negative closings. However, volume indicators reveal a mild bullish sentiment, with trend forecasting oscillators maintaining a bullish outlook for the KSE-100 over the last 28 sessions.

Technical analysis points to an immediate support level at 125,100. A breach of this support could see the index decline further toward 124,500 and 123,800. Conversely, resistance is anticipated around 126,100, with potential targets set at 126,800 and 128,000. Investors are advised to accumulate positions while managing risk below the identified support zone.