Karachi: The KSE-100 index experienced significant volatility as it opened on a weak note and faced sustained selling pressure throughout the trading day, closing 2,315 points lower at 179,927. Trading volumes saw a 12% decline compared to the previous session, suggesting a reduction in market participation.

According to AKD Securities Limited, despite the recent decline, the KSE-100 index remains 6.3% above its 200-period moving average, maintaining a long-term uptrend. Current market volatility is above its average level over the past 10 periods, indicating heightened activity that is expected to moderate as prices stabilize. Volume indicators show balanced buying and selling interest, while trend forecasting oscillators present a mixed outlook for the index.

Technical analysis indicates immediate support at 179,000, with potential declines extending to 177,500 and 176,200 if breached. Resistance levels are anticipated around 180,500, followed by 182,100 and 183,500. It is advised to accumulate positions with risk management strategies defined below the support zone.