Karachi: The KSE-100 index experienced another downturn, closing at 168,954, a decline of 1,525 points, with trading volumes at 658 million shares compared to the previous 727 million. Market analysts anticipate the index will test its support level at 168,517, with potential further decline to 166,158 if breached.

According to JS Global, resistance levels stand between 169,360 and 169,850, while any upward movement will aim for the recent high at 174,172. The firm advises investors to adopt a 'buy on dips' strategy, with risk parameters set below the 30-DMA. For Pakistan State Oil (PSO), the recommendation is to target Rs355.00 and Rs360.50 with a stoploss at Rs344.76. Meanwhile, Maple Leaf Cement Factory Limited (MLCF) presents a limited downside risk, with a similar 'buy on dips' strategy advised, targeting Rs87.59 and Rs89.65, with a stoploss at Rs84.24.