Karachi: The KSE-100 index witnessed a decline in trading activity, closing 119 points lower at 161,984, as detailed by AKD Securities Limited. The market started on a higher note but faced volatility, with an intraday high of 282 points and a low of 862 points. Trading volumes saw a significant decrease of 39% compared to the previous session.

Despite the decline, the index remains 19.8% above its 200-period moving average. Market indicators reflect balanced inflows and outflows, maintaining a neutral stance. However, trend-based oscillators are providing mixed signals, leaving the market direction unclear. The index continues to trade below the declining trend line shown in recent charts.

Technically, immediate support is noted at 161,800. Breaking below this level could lead to further declines toward 161,200 and 160,500. On the upside, resistance is anticipated around 162,500, with further levels at 163,100 and 163,500. Market participants are advised to consider increasing positions during market weaknesses, with a focus on defined risk management below key support levels.