Karachi: The KSE-100 index experienced a significant downturn, shedding 1,204 points during the latest trading session despite an uptick in trading volumes. This decline follows three consecutive days of gains and reflects a bearish trend that persisted throughout the session.

The index opened on a weak note and struggled to recover, ending in negative territory. It achieved an intraday high of 381 points and a low of 1,310 points, eventually closing at 117,226. Trading activity was notably higher, with volumes increasing by 46% compared to the previous session.

Interestingly, the Moving Average Convergence Divergence (MACD) indicator remains in the bullish zone, still trading above its signal line. This follows a bullish crossover two sessions ago, though the index has since declined by 0.98%, fluctuating between a high of 119,217 and a low of 117,120.

From a technical perspective, immediate support for the index is identified at 117,100. A breach of this level could lead to further declines toward 116,500 and 115,800. Conversely, resistance is anticipated around 117,800, with potential targets at 118,500 and 119,000. Caution is advised for traders, with the recommendation to implement stop-loss strategies during intraday trading.