Karachi: The KSE-100 Index witnessed a tumultuous trading session, marked by significant fluctuations before closing with a decline. The session began on a positive note, with the index hitting a new record high, but volatility soon took over.

The index reached an intraday peak of 1,166 points and a low of 730 points, ultimately closing down by 264 points at 145,383. Trading volumes saw a 15% decrease from the previous session, indicating a cautious market sentiment.

Volume indicators suggest moderate inflows into the KSE-100, hinting at a slightly bullish outlook. Meanwhile, trend forecasting oscillators have maintained a bullish stance for 57 sessions. However, the momentum oscillator (RSI) recorded a reading of 80.16, signaling that the index is currently in overbought territory.

Technical analysis indicates that immediate support lies at 145,300. A breach of this level could lead to further declines toward 144,800 and 144,300. Conversely, resistance is anticipated around 145,800, with potential targets at 146,500 and 146,900.

AKD Securities Limited recommends cautious trading, with an emphasis on accumulating positions near the defined support zone while managing risk appropriately.