Karachi: The KSE-100 index witnessed profit-taking on Tuesday, ending the trading session with a decline of 248 points, closing at 161,687. The index showed mixed performance throughout the day, reaching an intraday high of 1,667 points and a low of 454 points.

Market activity saw a notable increase, with trading volumes rising by 117% compared to the previous day. The index remains 20.7% above its 200-period moving average, suggesting an ongoing upward trend despite the volatility. Current market volatility is lower than the average of the past ten sessions, though sharp swings might be expected in the near future.

Volume indicators reflect a neutral position, with buying and selling pressure remaining balanced. Technical analysis points to immediate support at the 161,300 level, with further declines possible if this support is breached, potentially reaching 160,700 and 160,100.

Resistance levels are projected at 162,500, followed by 163,100 and 163,700. Market analysts recommend accumulating positions during market weakness, with risk management advised below the identified support zone.

These insights were provided by AKD Securities Limited, highlighting the technical outlook of the market.