Karachi: The KSE-100 index experienced a decline, closing at 178,415, a drop of 1,156 points day-over-day. Trading volumes reached 869 million shares, slightly up from the previous 851 million. The index is anticipated to test a resistance level at 180,272, with potential for an uptrend towards 182,186 if surpassed. However, support is expected between 177,060 and 178,340 in the event of a downturn. Investors are advised to remain cautious and consider buying on dips.

According to JS Global, specific stocks such as Maple Leaf Cement Factory (MLCF) and International Steels Limited (ISL) are recommended for a 'buy on dips' strategy. MLCF has an upside target of Rs110.75 and Rs113.83, with a stop-loss at Rs104.01. ISL's target is set between Rs95.15 and Rs100.20, and a stop-loss at Rs88.02.