Karachi: The KSE-100 index closed at 178,472, marking a decline of 451 points after failing to sustain its intraday high of 180,508. Trading volumes also decreased, with 807 million shares exchanged compared to 1,050 million shares in the previous session. The index is anticipated to test support levels between 176,930 and 177,710, with a potential fall targeting the 30-day moving average at 171,185. Any upward movement is expected to encounter resistance between 179,100 and 180,510. Investors are advised to exercise caution and consider buying during market dips.

According to JS Global, the Maple Leaf Cement Factory (MLCF) is expected to consolidate above its 200-day moving average. The recommended strategy is to 'buy on dips,' targeting price points of Rs102.25 and Rs106.95, with a stop-loss at Rs99.82. In the case of Attock Refinery Limited (ATRL), moving averages are projected to limit downside risk. The strategy also suggests 'buy on dips,' aiming for target prices of Rs917.00 and Rs930.00, and a stop-loss set at Rs892.33.