Karachi: The KSE-100 index faced a substantial decline during the latest trading session, falling by 1,370 points to close at 168,022. The session was marked by strong bearish pressure, with the index plummeting to an intraday low of 1,542 points. The market also saw a decrease in trading volumes, which dropped by approximately 9% compared to the previous session.

According to AKD Securities Limited, the KSE-100 is trading 2.4% below its 200-period moving average and continues on a downward trend. Volatility has surged to extremely high levels relative to the average of the past 10 trading sessions, suggesting potential for near-term price stabilization if volatility decreases. Volume indicators indicate significant outflows from the KSE-100, pointing to bearish market sentiment. Trend-forecasting oscillators have consistently signaled a bearish outlook for the past six sessions.

Technical analysis identifies immediate support at 167,500, with potential further declines to 166,700 and 166,100 if this level is breached. Meanwhile, resistance is anticipated at 168,800, 170,000, and 170,500. Analysts recommend cautious trading and suggest accumulating positions on market dips while defining risk below the support zone.