Karachi: The KSE-100 index experienced a downturn, closing at 186,256, down 1,199 points day-over-day. Trading volumes increased to 985 million shares compared to 888 million in the previous session. Analysts anticipate a period of consolidation below the all-time high as the index grapples with mixed momentum indicators.

According to JS Global, the index is likely to test support at 186,189, with potential declines targeting 184,134 and 181,667. Conversely, any upward movement will face resistance between 186,850 and 188,130. The report advises investors to exercise caution and consider buying on dips. Current support and resistance levels are set at 185,588 and 187,525, respectively.

In related analysis, the report highlights specific strategies for two stocks. For ISL, the recommendation is to 'buy on dips' with target prices of Rs99.60 and Rs102.80, and a stop-loss at Rs94.17. HBL is also suggested as a 'buy on dips' with targets of Rs324.25 and Rs332.50, and a stop-loss at Rs307.00.