Karachi: The KSE-100 index, a key stock market indicator in Pakistan, witnessed a significant decrease, closing at 146,480 points, marking a drop of 11,016 points from the previous day. Trading volumes increased to 622 million shares compared to 363 million shares previously. The index is expected to test support at the 144,119 mark, with further declines potentially targeting 143,069 and 138,974 levels. Resistance is anticipated between 149,730 and 152,980, with the 200-day moving average at 157,023 posing a substantial barrier.

According to JS Global, the technical indicators such as the RSI and the MACD are trending downwards, reinforcing a bearish outlook for the index. The firm advises investors to remain cautious, highlighting support at 143,675 and resistance at 149,730 levels. In specific stock movements, Pakistan Petroleum Limited (PPL) is showing support at its 200-day moving average, prompting a 'buy on dips' strategy with targets of Rs211.33 and Rs216.02, and a stop loss positioned at Rs200.81. Similarly, Attock Refinery Limited (ATRL) is trading between key averages, with a recommended strategy of 'buy on dips' targeting Rs797.00 and Rs806.17, and a stop loss set at Rs767.55.