Karachi: Bears took control of the market session on Tuesday as the KSE-100 index experienced a sharp decline, losing 1,405 points to close at 114,064. This marked a significant movement below the 50-day moving average (DMA), signaling potential constraints on upward momentum.

Trading volumes were also subdued, with 424 million shares traded compared to the previous session's 471 million. The breach of the 50-DMA, now set at 115,255, raises concerns for investors, as further resistance is anticipated at the 30-DMA level of 116,570.

Analysts have noted that a drop below the support of 113,868, yesterday's low, could lead to further declines, targeting 113,585 and potentially reaching down to 112,054. The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators have both moved downwards, reinforcing a bearish outlook.

Market experts have advised investors to exercise caution at current levels, with critical support and resistance levels identified at 113,068 and 115,859, respectively. This cautious stance suggests a need for close monitoring of market movements to navigate potential volatility.