Karachi: The KSE-100 Index experienced a day of volatility, closing with a modest gain of 138 points, despite a significant reduction in trading volumes. The index, which began the day strongly, fluctuated between an intraday high of 672 points and a low of 259 points before settling at 166,284 points.

Market participation saw a notable decline, with trading volumes down by 35% from the previous session. Over the last 10 sessions, the market recorded four positive closes against six negative ones, resulting in a net of two negative sessions. The volume indicators suggest moderate inflows, indicating a slightly bullish sentiment.

Technical analysis shows immediate support for the index at 165,800 points. A breach below this level could lead to further declines toward 165,200 and 164,500 points. Conversely, resistance levels are anticipated around 166,800, with further resistance at 167,500 and 168,100 points.

Market analysts recommend accumulating positions during market weaknesses, with risks defined below the identified support zones, as trend forecasting oscillators have maintained a bullish stance over the past six sessions.