KSE-100 Index Hits Record High, Signals Continued Market Optimism

Islamabad, The Karachi Stock Exchange (KSE-100) index achieved a significant milestone, recording its highest ever closing at 66,548 points, following a bullish trend throughout the last trading session. The session witnessed a notable gain of 642 points, with trading volumes surpassing those of the previous session. This performance underscores a growing investor confidence and the potential for the index to approach its all-time high.

According to AKD Securities Limited, the index demonstrated strong momentum, with the Relative Strength Index (RSI) indicating a bullish sentiment at a reading of 64.47, well above the neutral level. Technical analysis suggests that the KSE-100 may find initial support around the 66,000 mark. Should it break below this level, the index could face further declines towards 65,500 and then 65,100 points. Conversely, resistance is expected near 66,800 points, beyond which the index could target the 67,100 and 67,500 points range.

Investors are advised to adopt a cautious trading strategy, focusing on accumulating positions near the support zone while clearly defining risks below these levels. This approach reflects a prudent response to the current market dynamics, emphasizing the importance of vigilance amidst the prevailing bullish trend.

The KSE-100's record closing highlights the resilient performance of Pakistan's stock market, signaling continued optimism among traders and investors. This achievement marks a pivotal moment for the market, suggesting a potential for further gains in the upcoming sessions.