Karachi: The KSE-100 Index experienced a significant upswing on Wednesday, closing with a robust gain of 1,946 points at 161,538. This positive momentum was sustained throughout the trading session, as the index reached an intraday high of 2,286 points.

Market participation saw a slight improvement, with trading volumes rising by 4% compared to the previous session. The index ended 41.6% above the lower Bollinger Band, while the bands themselves widened by 6.32% from their typical range, signaling heightened volatility.

In the past ten trading sessions, the index has experienced three advances and seven declines, resulting in a net of four negative closes. The Relative Strength Index (RSI) is currently at 50.52, indicating neutral momentum.

Technical analysis suggests immediate support at 161,000 points. A drop below this level could result in further declines toward 160,600 and 159,900 points. Resistance is anticipated at 161,800, with further resistance levels at 162,500 and 163,100 points. Traders are advised to proceed cautiously and consider accumulating positions during periods of weakness, with risk management focused below the support zone.