Karachi: The Karachi Stock Exchange (KSE) 100 index experienced a significant decline as it closed 814 points lower at 165,152, despite showing early positive signs. The index recorded an intraday high of 459 points and a low of 855 points. Trading volumes saw an increase of approximately 33% over the previous session, indicating heightened market participation.

According to AKD Securities Limited, the Moving Average Convergence Divergence (MACD) indicator remains bullish, trading above its signal line. However, since the crossover, the KSE-100 index has decreased by 0.49%, fluctuating between 166,698 and 165,111 points. The index's position below its 10-period moving average reflects a continuing downward trend, accompanied by low volatility compared to the average of the last 10 periods.

Immediate support for the index is identified at 164,700, with potential further declines toward 164,300 and 163,400 if breached. Resistance is anticipated around 166,000, followed by 166,800 and 167,400. Accumulating positions on dips is recommended, with risk managed below the support zone.