Karachi: The KSE-100 index witnessed a modest rise, closing at 169,969 points, up by 369 points day-over-day, but failed to maintain its intraday high of 171,493. The trading volume increased to 591 million shares from the previous 568 million, indicating heightened market activity.

According to JS Research, the index is expected to consolidate below its 200-day moving average (DMA), with immediate support anticipated between the 169,530 and 169,880 levels. A fall below this range may continue the existing downtrend, targeting 168,670 and 166,141 points. Conversely, any upward movement will encounter resistance at 171,493, with a breakthrough aiming for the 200-DMA at 172,412. The momentum indicators remain mixed, suggesting investors exercise caution and consider buying on market dips.

Specific stock strategies outlined by JS Global include a buy signal for the Bank of Punjab (BOP), with target prices set at Rs32.08 and Rs33.37, and a stop-loss at Rs30.01. For International Steels Limited (ISL), the recovery target remains intact, recommending purchases on dips toward Rs82.40 and Rs84.58, with a stop-loss at Rs77.20.