KSE-100 Index Observes Slight Decline Amid Profit-Taking

Karachi, The KSE-100 index experienced modest fluctuations during its latest session, starting on a positive note but closing with a slight decline of 3 points, settling at 72,761. This movement reflects a cautious sentiment among traders, highlighted by a noted profit-taking approach in the market.

According to AKD Securities Limited, the session witnessed higher trading volumes compared to the previous one, with notable variances in the index's performance. Resistance was observed near the 73,000 point mark, with potential further challenges up to 73,800 points. On the downside, initial support is placed around 72,500 points, with significant falls possibly leading to levels as low as 71,800 points. Trading strategies recommended by AKD emphasize caution, advising traders to capitalize on profits given the mixed market signals and the narrowness observed in Bollinger Bands, which are 12.01% narrower than usual.