Karachi: The KSE-100 index experienced a robust session as it surged by 4,640 points to close at a level of 177,040. The trading volumes increased to 988 million shares, compared to the previous 891 million, signaling a strong market presence by the bulls. The index is now eyeing a target of 180,992, with potential to rise further to 184,511, while support levels are anticipated between 175,080 and 176,440 in case of a decline.

According to JS Global, the market indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) suggest a favorable market outlook. Investors are advised to 'Buy on dips', maintaining a stop-loss just below the 175,085 mark. The current support and resistance levels are at 175,692 and 177,782, respectively.

In sector-specific news, Pakistan State Oil (PSO) closed above key averages, with a recommended strategy to 'Buy on dips' targeting price points of Rs365.09 and Rs377.51, with a stop-loss at Rs353.00. Similarly, United Bank Limited (UBL) is poised for an upward trajectory, with a strategy to 'Buy on dips' aiming for Rs436.02 and Rs450.13, while maintaining a stop-loss at Rs413.51.