Karachi: The KSE-100 index, a benchmark for the Pakistan Stock Exchange, exhibited a positive trend, closing at 176,094 points with a rise of 546 points from the previous day. Trading volume increased to 881 million shares compared to the prior session's 711 million shares. The index's performance highlights a consolidation phase, with potential resistance and support levels in sight.

According to JS Global, the index is currently trading above its 50-day moving average (DMA), providing a downside limit at 175,537 points. A drop below this threshold could see the index target the 200-DMA at 169,982 points. On the upside, resistance is anticipated at the 30-DMA, positioned at 178,768 points. With momentum indicators offering mixed signals, there is no definitive trading view. Investors are advised to exercise caution and consider buying on market dips. The index's support and resistance are marked at 175,650 and 176,824 points, respectively.

In other market movements, Sui Northern Gas Pipelines Limited (SNGP) is expected to recover, with a recommended strategy of 'buy on dips' targeting Rs107.31 and Rs109.45, with a stop loss at Rs99.40. Similarly, Habib Bank Limited (HBL) presents limited downside risk with a 'buy on dips' strategy targeting Rs307.13 and Rs311.17, and a stop loss at Rs295.83.