Karachi: The KSE-100 index experienced a volatile trading session, opening on a positive note but concluding with a significant drop, settling at 78,615 points—a loss of 283 points. The session marked a 36% decrease in trading volumes compared to the previous session, indicating a cautious approach from investors.

According to AKD Securities Limited, the index is currently positioned 12.6% above its 200-period moving average, suggesting an underlying upward trend despite the day’s losses. Market analysts predict an increase in market volatility and anticipate sharp fluctuations in the near future. The technical analysis shows that the KSE-100 may encounter initial support near 78,450 points, with potential further declines towards the 78,200 and 78,000 levels if this support is breached. On the upside, resistance is expected near 78,800 points, with potential to push towards 79,100 and 79,400 points.

The trading session also highlighted individual stock performances within sectors such as banking, oil and gas, and fertilizers. Notably, MCB, HBL, and UBL saw declines in their stock values, aligning with the overall market sentiment. Conversely, stocks like FFC and EFERT in the fertilizer sector posted gains, indicating sector-specific dynamics.

The market’s technical indicators suggest continued bullish trends from the last three sessions, though the overall market stance remains cautious with recommendations to initiate buying positions near support zones with clearly defined risks.