Karachi: The KSE-100 index saw a decrease in its value, closing at 113,443, representing a decline of 1,599 points from the previous day. Trading volumes also saw a slight dip, with 744 million shares exchanged compared to 767 million in the previous session. The index's drop below the 30-day moving average indicates a potential negative trend, with limited prospects for an upward movement unless it surpasses the 113,890 marks.

According to a statement by JS Global, the index's technical indicators, such as the Relative Strength Index (RSI) and the Stochastic Oscillator, suggest a weakening position, reinforcing a cautious approach for investors. A further drop below the 113,359 level could lead to a new target of 112,958, with a subsequent fall potentially reaching 112,014. The current support and resistance levels are pegged at 112,783 and 114,680, respectively.

In specific stock movements, DG Khan Cement Company (DGKC) is advised for a 'buy on dips' strategy, with target prices set at Rs109.80 and Rs111.97, and a stop-loss at Rs105.15. Meanwhile, Attock Refinery Limited (ATRL) is anticipated to continue its downward trend, with a recommended 'sell on strength' strategy, targeting Rs623.04 and Rs606.80, with a stop-loss at Rs649.00.

The overall market sentiment remains cautious, with investors advised to remain vigilant given the current technical outlook and potential volatility in the index.