Karachi: The KSE-100 index, a benchmark for market performance in Pakistan, experienced a dip, closing at 77,980, down 589 points from the previous day. The trading volume slightly decreased from 420 million shares to 415 million shares.

According to JS Global, the index could not maintain its earlier peak of 78,886, indicating potential volatility. The market is poised to test its support at the 50-day moving average of 77,751. A fall below this level could extend the current downtrend. Conversely, any upward movement faces resistance in the 78,880 to 79,080 range, with further gains possibly pushing the index towards 80,031. The analysis suggests mixed indicators, leading to an unclear trading direction. Investors are advised to maintain positions ‘long’ if the index stays above the 50-day moving average. The defined key support and resistance levels are at 77,651 and 78,597, respectively.