Karachi: The Karachi Stock Exchange’s benchmark KSE-100 index experienced a volatile trading session, closing 404 points higher at 177,371, despite a notable decline in market participation, with trading volumes dropping by approximately 39% from the previous session.

According to AKD Securities Limited, the index began on a positive note, reaching an intraday high of 809 points before retreating to a low of 340 points. From a technical standpoint, the KSE-100 is currently hovering near its 30-day simple moving average (SMA) at 177,301, a crucial short-term level. While momentum indicators are mixed, suggesting potential range-bound trading in the near term, the Relative Strength Index (RSI) is at 47.93, below the neutral 50 level, indicating subdued momentum. Additionally, the daily Parabolic SAR remains above the current index level, implying continued short-term downside pressure.

Immediate support is identified at 176,500, with further declines possible toward 175,500 and 174,500 if this level is breached. Conversely, resistance is anticipated at 177,800, followed by 178,800 and 179,500. Investors are advised to trade cautiously and consider accumulating positions on dips, with risk management focused below the support zone.