Islamabad: The Pakistan Stock Exchange's benchmark KSE-100 index suffered a significant drop of 1,356 points, closing at 149,235. Trading activity surged with 1,063 million shares traded compared to 668 million the previous day. Analysts warn the index could retest the previous day's low of 148,272. A breach below this mark may trigger a broader corrective movement, targeting levels of 148,046 and 146,057.

Upward movement faces resistance between 149,580 and 150,900. Surpassing this barrier could propel the index towards 151,859. Investors are advised to exercise caution at elevated levels and seek buying chances during market dips. Key support and resistance are identified at 147,922 and 150,899, respectively.

For Pakistan State Oil (PSO), moving averages are expected to curb further declines. A "buy on dips" strategy is recommended, targeting Rs399.27 and Rs404.95, with a stop-loss set at Rs387.84. Honda Atlas Cars (HCAR) shows consolidation above key averages. A "buy on dips" approach is also suggested for HCAR, aiming for Rs298.50 and Rs304.43, with a stop-loss at Rs287.02.