FLASHNEWS:

KSE-100 Index Continues Downward Trend with 447-Point Drop

Karachi, The KSE-100 index continued its downward trajectory, losing 447 points Day-on-Day (DoD) to close at 74,219. Trading volumes stood at 349 million shares, compared to 414 million shares in the previous session. The index is expected to test support at 74,137, yesterday's low, with a potential fall targeting the 30-Day Moving Average (30-DMA) at 73,751. Any upward movement will face resistance between 74,370 and 74,610 levels.

According to JS Global, the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators are trending downward, reinforcing a negative outlook. Investors are advised to remain cautious on the higher side. Support and resistance levels are set at 73,985 and 74,606, respectively.

In other stock updates, DG Khan Cement (DGKC) is anticipated to experience a pullback. The recommended strategy is 'Buy on dips,' with targets set at Rs86.84 and Rs88.27, and a stop-loss at Rs84.23. On the other hand, International Steels Limited (ISL) is expected to continue its slide, with a 'Sell on Strength' strategy advised, targeting Rs80.00 and Rs77.47, and a stop-loss at Rs83.57.