Karachi: The KSE-100 index closed at 169,497, declining by 1,175 points, amid range-bound trading activity. Trading volumes decreased to 780 million shares from the previous 1,192 million. The index is anticipated to test resistance at 171,307, with potential to reach a recent high of 175,298. A decline below 169,268 could target the 50-day moving average at 161,605. Investors are advised to remain cautious and consider buying on dips, with support and resistance noted at 168,742 and 170,780, respectively.

According to JS Global, Pakistan State Oil (PSO) is expected to continue its consolidation phase. The recommended strategy is to 'buy on dips', targeting price points of Rs394.90 and Rs401.00, with a stop-loss at Rs384.50. For International Steels Limited (ISL), a recovery trend is in place, with a similar 'buy on dips' strategy advised, targeting Rs84.40 and Rs87.30, and a stop-loss at Rs79.88.