Karachi: The KSE-100 index, Pakistan's leading stock market indicator, demonstrated range-bound activity, closing at 166,564 points, marking an increase of 155 points from the previous day. Trading volumes decreased significantly, with 443 million shares exchanged compared to 825 million shares in the prior session. The index continues to consolidate below the 30-day moving average (DMA), which is anticipated to limit any upward movement at the 167,127 level.

According to JS Global, a breakthrough above the 30-DMA could potentially trigger a recovery trend, with initial targets set at 169,514 points and potentially reaching 171,410 points, equivalent to the 200-DMA. Conversely, any decline is expected to find support between 164,975 and 165,770 points. A fall below these levels could result in the continuation of the downtrend. Investors are advised to remain cautious concerning higher levels and consider buying on dips. The support and resistance are established at 165,770 and 167,174 points, respectively.

In related market activities, International Steels Limited (ISL) is expected to maintain a steady upward trend. A strategy of 'buy on dips' is recommended, targeting prices of Rs81.94 and Rs85.19, with a stop loss set at Rs76.40. Meanwhile, Maple Leaf Cement Factory Limited (MLCF) closed above its 30-DMA, with a similar 'buy on dips' strategy advised, targeting Rs93.60 and Rs94.91, and a stop loss at Rs91.01.