Karachi: The KSE-100 index encountered resistance and failed to sustain its intraday high, closing at 161,687, a decline of 248 points from the previous day. Trading volumes increased significantly to 1,214 million shares from 673 million shares in the prior session. Analysts anticipate the index may test its support levels between 161,430 and 161,490, with a potential continuation of the downtrend if these levels are breached. Resistance is expected at 162,276, with further barriers between 163,600 and 163,940. Mixed indicators suggest no definitive trading view, prompting a cautious approach for investors.

Sui Northern Gas Pipelines (SNGP) is showing support at the 200-day moving average (DMA). Analysts recommend a 'buy on dips' strategy, targeting Rs123.45 and Rs129.35, with a stoploss set at Rs116.47.

Habib Bank Limited (HBL) demonstrates a recovery trend. The recommended strategy is also 'buy on dips,' aiming for targets of Rs290.42 and Rs297.10, with a stoploss at Rs280.10.

The insights are based on analysis from JS Global.