Karachi: The KSE-100 index faced a bearish trading session, closing with a significant drop of 1,497 points at 166,145. The session opened strongly but turned volatile, leading to a decrease in market participation and an 11% reduction in trading volumes from the previous day.

The index experienced an intraday high of 519 points and a low of 1,527 points. It closed 18.2% below the upper Bollinger Band, with the Bands 2.14% wider than usual. The Relative Strength Index (RSI), a momentum indicator, stands at 59.10, signaling that overall volatility remains low compared to the past 10 sessions.

Technical analysis suggests immediate support at 165,500, with a potential decline toward 164,800 and 164,300 if this level is breached. Resistance is anticipated around 166,800, followed by 167,500 and 168,100. Analysts recommend accumulating positions during periods of weakness, with risk management strategies in place below the support zone.

The session's low volatility indicates a potential for increased volatility and sharper price swings in the near future. Market participants are advised to remain cautious as the index navigates these technical levels.