Karachi: The KSE-100 index experienced a decline, closing at 171,944, a drop of 699 points from the previous day. Trading volumes decreased to 478 million shares from 723 million shares traded earlier. The index's fall below the 200-DMA suggests the possibility of further declines, though interim support exists between 171,490 and 171,800 levels. A breach below this could lead to a target of 169,513, while any upward movement will face resistance between 172,300-173,180 levels.

According to JS Global, technical indicators such as the RSI and MACD are trending downward, reinforcing a negative outlook for the market. Investors are advised to exercise caution at the current levels, with support and resistance identified at 171,439 and 172,811 levels, respectively. Additionally, specific strategies are suggested for stocks like PPL, which is consolidating above the 233-EMA with a 'buy on dips' recommendation targeting Rs222.98 and Rs228.55, and UBL, where the price has stabilized with recovery anticipated.