Karachi: The KSE-100 Index recorded a modest increase, closing up 315 points day-over-day, amidst a surge in trading volume. The index, which recently peaked at 80,017, concluded the trading session at 79,333.

According to JS Global, the index experienced significant trading activity, with volumes reaching 916 million shares compared to 584 million shares in the previous session. The KSE-100 is trading above its 50-day moving average (DMA), which is expected to limit any potential declines to around the 78,810 level. On the upside, resistance is anticipated between 79,530 and 79,820 points. Surpassing this range could potentially push the index towards a new target of 80,871 points.

Technical indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) are showing upward trends, suggesting a positive outlook for the market. Investors are advised to consider any downward movements as buying opportunities, provided risks are managed with careful consideration of the 50-DMA.

The current support and resistance levels are noted at 79,058 and 79,812, respectively.