Islamabad: The KSE-100 index experienced a downturn, failing to maintain its earlier high and closing lower amid reduced trading volumes. The index concluded at 77,830, marking a decline of 215 points from the previous day’s trading.

According to JS Global, the KSE-100 index struggled to sustain its intraday peak of 78,382, eventually settling down by 215 points. The day’s trading volumes decreased to 471 million shares from 601 million shares in the prior session. The index fell below its 50-day moving average (DMA), which could limit potential gains with a next resistance point at 77,966, followed by the 30-DMA at 78,901. Furthermore, if the index drops below 77,566, it might approach the recent low of 76,943.

Technical indicators, including the Relative Strength Index (RSI) and Stochastic Oscillator, are pointing towards a potential continuation of the negative trend. This suggests that investors should exercise caution at the current levels. The key support is observed at 77,470, with resistance at 78,286 points.