Karachi: The KSE-100 index experienced a downturn on Friday, closing at 178,923 points, marking a decrease of 2,475 points from the previous day. Trading volumes also declined, with 1,050 million shares exchanged compared to 1,242 million shares the day before, indicating a subdued trading session. The index is expected to trade within a range, testing support levels, with a possibility of further decline if it falls below the 177,836 level.

According to JS Global, the index may encounter resistance between the 179,650 and 181,460 levels. The momentum indicators provide no definitive trading direction, prompting a cautious approach for investors, especially against the backdrop of potential market dips. Key support and resistance levels are noted at 177,110 and 181,460, respectively.

In individual stock analysis, Maple Leaf Cement Factory (MLCF) is in a phase of post-breakout consolidation, with a recommended strategy of 'buy on dips,' targeting Rs104.00 and Rs106.95, and a stop-loss set at Rs98.30. Similarly, Attock Refinery Limited (ATRL) is perceived to have limited downside risk, with a 'buy on dips' strategy suggested, targeting Rs920.52 and Rs930.00, and a stop-loss at Rs890.90.