Karachi: The KSE-100 index encountered a bearish trading session, closing with a substantial loss of 3,668 points at 157,871, after hitting an intraday low of 3,773 points. Despite this decline, market activity improved, with trading volumes increasing by 29% from the previous session. The Moving Average Convergence Divergence (MACD) remains bearish, as it continues to trade below its signal line—a trend that has persisted for 23 sessions, leading to a 4.05% drop in the index.

Since the bearish crossover, the index has fluctuated between a high of 168,414 and a low of 156,328. The Relative Strength Index (RSI) also decreased significantly, moving from 50.52 to 42.93 in a single session.

Technical analysis indicates immediate support at 157,300. A breach below this level could see the decline extend to 156,700 and 155,800. On the upside, resistance is forecasted around 159,000, followed by 159,600 and 160,300. Market experts advise adopting a cautious trading approach and suggest accumulating positions when the market weakens, with risk management below the support zone.