Karachi: The KSE-100 index of the Pakistan Stock Exchange concluded a range-bound trading session, closing at 175,928 points, marking an increase of 125 points from the previous day. Trading volumes rose to 676 million shares, compared to 621 million shares in the prior session. The index is anticipated to oscillate between its 50-day and 30-day moving averages, positioned at 174,388 and 178,179 points respectively. A decisive movement above or below these averages is required to establish a clear trend.

According to JS Global, the momentum indicators remain mixed, prompting a neutral outlook for the index. Investors are advised to exercise caution with upward movements and consider entering the market during price dips. The technical support and resistance levels are identified at 174,333 and 176,826 points, respectively.

In stock-specific developments, Oil and Gas Development Company (OGDC) is projected to recover, with a strategy recommendation of 'buy on dips' targeting prices of Rs322.28 and Rs327.96, and a stop-loss set at Rs313.10. Meanwhile, Maple Leaf Cement Factory Limited (MLCF) is maintaining support at its 50-day moving average, with a similar 'buy on dips' strategy targeting Rs99.29 and Rs103.46, and a stop-loss at Rs92.55.