Karachi: The KSE-100 index experienced a downturn, closing at 167,442, which marks a decrease of 1,139 points from the previous day. The trading volume also saw a decline, with 366 million shares changing hands compared to 587 million previously.

According to JS Global, the index is approaching its recent low of 165,652, with projections indicating a potential fall to 163,612, possibly extending to 162,049. Any upward movement is expected to encounter resistance between 168,120 and 169,490, with a breakthrough potentially targeting 171,075. Technical indicators such as the RSI and MACD are both pointing downwards, reinforcing a negative outlook. Investors are advised to exercise caution at this level, with support and resistance noted at 166,765 and 168,802, respectively.

The press release also highlighted specific stock strategies. For PSO, a 'buy on dips' strategy is recommended, with targets set at Rs366.40 and Rs368.89, and a stop-loss at Rs354.45. For BOP, the recovery trend remains intact, with a 'buy on dips' strategy targeting Rs30.53 and Rs31.75, and a stop-loss at Rs28.55.