Karachi: The KSE-100 index faced a turbulent trading session, closing with a significant loss of 1,238 points, ending at 167,752. Despite the decline, the index remains 32.3% above its 200-period moving average, indicating a long-term upward trend.

The trading day began on a positive note but was marked by volatility, with the index reaching an intraday high of 336 points and a low of 2,993 points. Investor participation was notably lower, with trading volumes dropping by 83% compared to the previous session.

While the index remains in a bullish phase, supported by trend forecasting oscillators, the momentum oscillator suggests it is currently overbought. Volume indicators point to strong inflows, reinforcing the bullish sentiment.

Technical analysis indicates immediate support at 167,200. A breach below this could lead to further declines towards 166,400 and 165,700. Resistance levels are noted at 168,500, 169,500, and 170,000. Investors are advised to consider accumulating on dips, with risk management strategies in place below the support level.