Karachi: The KSE-100 index experienced a significant decline on Friday, closing at 112,801 points, marking a drop of 938 points day-over-day. Trading volumes also saw a reduction, with 455 million shares exchanged, compared to 787 million in the previous session.

According to a statement by JS Global, the index has fallen below its 30-day and 50-day moving averages, which are now at 113,187 and 113,425 points, respectively. This development is expected to limit any upward momentum. Investors are advised to remain cautious, as further bearish pressure could drive the index towards its recent low of 111,514 points.

The current market indicators are mixed, providing no definitive trading outlook. Investors are encouraged to adopt a cautious approach and consider buying on dips. The KSE-100’s support and resistance levels are set at 112,253 and 113,896 points, respectively.

In related market strategies, NETSOL is advised for consolidation with a ‘buy on dips’ approach, targeting Rs144.88 and Rs149.12, with a stop loss at Rs137.69. Similarly, HCAR is recommended to ‘play the range’ with a ‘buy on dips’ strategy, aiming for Rs301.36 and Rs306.41, and a stop loss at Rs286.90.