Karachi: The KSE-100 index experienced a turbulent trading session, closing 1,138 points lower at 167,442, as it was resisted by the 20-day simple moving average (SMA). The market opened positively but remained volatile, reaching an intraday high of 169,487 and a low of 167,450. Trading volumes fell by approximately 38% from the previous session, indicating weakened market participation.

According to AKD Securities Limited, the KSE-100 is trading 2.9% below its 200-period moving average, highlighting a persistent downtrend. Despite the volatility aligning with average levels from the past ten periods, volume indicators suggest a neutral trend with balanced buying and selling pressures. Trend-forecasting oscillators have signaled bearish momentum for 22 consecutive periods. The index struggled against the 20-day SMA of 169,451, remaining below this resistance level.

Technically, immediate support is identified at 166,700, and a breach could see the index decline further to 166,100 and 165,600. On the upside, resistance is anticipated at 168,800, followed by 169,500 and 170,500. Market analysts recommend accumulating positions on dips, with risks managed below the support zone.