Karachi: The Pakistan Stock Exchange's benchmark KSE-100 index faced another decline, closing at 153,866, marking a decrease of 555 points on a day-over-day basis. Trading volumes were significantly lower, with 303 million shares exchanged compared to the previous session's 404 million. The index is anticipated to re-test the support level at 152,780, and a drop below this point could aim for the recent low of 144,119. Conversely, any upward movement is expected to encounter resistance between the 155,000 and 157,750 range.

According to JS Global, momentum indicators currently present a mixed outlook, providing no definitive trading direction. Investors are advised to remain cautious regarding potential increases and consider waiting for price dips before making purchase decisions. The identified support and resistance levels are 152,764 and 154,985, respectively.

In related market movements, Pakistan Petroleum Limited (PPL) is likely to consolidate above its 200-day moving average, with a suggested strategy of 'buy on dips' targeting share prices of Rs213.33 and Rs217.74, and a stop loss set at Rs201.74. Meanwhile, Maple Leaf Cement Factory Limited (MLCF) has generated a buy signal based on its Relative Strength Index (RSI), with a recommended 'buy on dips' strategy targeting Rs81.06 and Rs84.30, and a stop loss at Rs75.83.