Karachi: The KSE-100 index closed at 168,022, marking a decline of 1,371 points from the previous day as the market experienced another range-bound session. Trading volumes decreased to 356 million shares from the previous 372 million. Analysts expect short-term consolidation, with the nearest support identified at a recent low of 166,141, potentially falling to 164,610. Resistance levels are noted at 169,382 and 172,185, while momentum indicators remain mixed.

According to JS Global, investors are advised to exercise caution on the upside and consider opportunities during market dips. The support and resistance levels are pegged at 167,454 and 168,986, respectively. The press release also highlighted specific strategies for United Bank Limited (UBL) and Dera Ghazi Khan Cement (DGKC). For UBL, a 'buy on dips' strategy is suggested, with targets of Rs423.12 and Rs428.12, and a stop-loss at Rs411.11. Similarly, DGKC is expected to maintain its recovery trend with targets of Rs194.40 and Rs201.91, and a stop-loss at Rs182.26.