Karachi: The KSE-100 index experienced significant volatility during the latest trading session, closing 721 points lower at 176,976. The session began on a positive note, with the index reaching an intraday high of 442 points before retreating to a low of 752 points. Trading volumes saw a notable increase, rising by approximately 62% compared to the previous session.

According to AKD Securities Limited, the technical indicators suggest continued short-term bearish pressure on the index. The Moving Average Convergence Divergence (MACD) remains bearish, trading below its signal line, a trend that began seven sessions ago. During this period, the KSE-100 has seen a marginal gain of 0.07% while fluctuating between 178,942 and 176,111. The Relative Strength Index (RSI) is at 46.62, indicating weak momentum as it stays below the neutral level of 50.

The technical analysis points to immediate support at 176,500, with a potential decline to 175,500 and 174,500 if breached. Resistance levels are identified at 178,100, 178,800, and 179,500. Market participants are advised to proceed cautiously, accumulating positions during dips and maintaining risk management below the support zone.