Karachi: The KSE-100 index experienced a challenging trading session, starting on a positive note but soon succumbing to sustained selling pressure. The index reached an intraday low of 7,051 points before closing 4,865 points lower at 146,843. Despite the decline, market participation saw improvement, with trading volumes increasing by approximately 26% from the previous session.

According to AKD Securities Limited, the day's trading formed a large bearish candle, as prices closed significantly below the opening level. Over the past ten sessions, the market has recorded three bullish candles and seven bearish candles, resulting in a net of four additional bearish candles. Volatility remains elevated compared to the average of the last ten periods. Volume indicators suggest a neutral stance, reflecting a balanced flow of funds into and out of the KSE-100. However, trend forecasting oscillators continue to point to a bearish outlook.

From a technical perspective, immediate support is identified at 146,400, with a breach below this level potentially extending the decline toward 145,100 and 144,200. Conversely, resistance is expected around 147,600, followed by 148,300 and 149,300. Market participants are advised to trade cautiously and consider using stop losses below supportive areas.