FLASHNEWS:

KSE-100 Index Continues to Decline with 447-Point Drop

Karachi, The KSE-100 index continued its decline, posting a loss of 447 points to close at 74,219. The index opened slightly positive but remained under pressure throughout the trading session, reaching a low of 530 points. Trading volumes were lower compared to the previous session.

According to AKD Securities Limited, the Moving Average Convergence Divergence (MACD) is bearish, trading below its signal line for eight consecutive trading sessions. Since the MACD crossed its moving average, the index has decreased by 1.19%, fluctuating between a high of 76,249 and a low of 74,137.

The chart formation indicates that the index may find initial support near 74,100 points. A break below this support could lead to further declines towards the 73,700 and 73,400 points levels. On the upside, the index could face resistance initially near 74,600 points, and then at 75,100 and 75,500 points. Investors are advised to trade cautiously and use stop-loss measures below the support zone.