Karachi: The KSE-100 Index maintained its upward trajectory, closing with a significant gain of 1,218 points, ending the session at 168,303. This marked a robust performance as the index hit an intraday high of 1,670 points.

Market participation saw a notable increase with trading volumes rising by 45% compared to the previous session, indicating a surge in investor interest. The momentum indicators remained strong, with the MACD staying in bullish territory for 14 consecutive trading days. During this period, the index has risen by 4.58%, fluctuating between 169,289 and 160,565. The Relative Strength Index (RSI) stood at 64.30, indicating solid momentum without entering overbought territory.

From a technical perspective, immediate support is identified at 167,900. A breach below this level could lead to further declines towards 167,300 and 166,500. On the upside, resistance is anticipated at 169,100, followed by 169,700 and 170,300. Analysts recommend accumulating positions during market weaknesses, with risks defined below the support zone, to capitalize on the ongoing momentum.

The data highlights the positive sentiment and increased investor confidence in the market, suggesting a continued bullish outlook in the near term.