Karachi: The KSE-100 index experienced fluctuations before closing at 179,084, marking a decline of 251 points from the previous day. Trading volumes increased significantly, reaching 1,248 million shares compared to the previous 972 million shares. The market is expected to undergo short-term consolidation, with immediate resistance identified at the 180,769 mark. A breakthrough above this level could push the index to 182,348, while a decline below 178,642 may trigger a corrective trend.

According to JS Global, momentum indicators present a mixed picture, supporting the view of consolidation. Investors are advised to exercise caution and consider waiting for market dips before making further investments. The support and resistance levels are projected at 178,228 and 180,355, respectively.

In related market movements, DG Khan Cement Company (DGKC) is also expected to see consolidation. The recommended strategy is to 'buy on dips,' with targets set at Rs212.88 and Rs215.31, and a stop-loss at Rs206.15. Pakistan State Oil (PSO) closed above its 200-day moving average, with a 'buy on dips' strategy targeting Rs382.50 and Rs390.98, and a stop-loss at Rs369.26.