Karachi: The KSE-100 index concluded a range-bound session, closing at 168,062, a decrease of 831 points from the previous day. Trading volumes fell to 536 million shares, down from 692 million shares traded earlier. The index faces potential support at Friday's low of 165,812, with further declines possibly targeting levels of 162,954 and 159,464. Conversely, a recovery above 169,380 could lead to targets of 173,680 and 176,993. Momentum indicators currently lack a definitive direction, prompting recommendations for investor caution and strategic buying during market dips.

According to JS Global, the market's technical outlook suggests a cautious approach, with support and resistance levels identified at 166,122 and 169,690, respectively. For specific stocks, the Oil and Gas Development Company (OGDC) is advised as a 'buy on dips', with target prices of Rs287.70 and Rs292.48, and a stop-loss at Rs277.51. Similarly, International Steels Limited (ISL) maintains a recovery trend, with buying suggested at target prices of Rs90.84 and Rs95.68, and a stop-loss at Rs83.00.