Karachi: The KSE-100 index of the Pakistan Stock Exchange exhibited an upward trend, closing at 172,233 points, marking an increase of 830 points from the previous day. Trading volumes also saw a rise, with 774 million shares exchanged compared to the previous 642 million shares. The index is poised to test resistance at 172,762, which was the high recorded yesterday, and a breakthrough could set the stage for further targets at 174,495 and 175,405 levels.

According to JS Research, the market is showing signs of recovery, supported by rising RSI and MACD indicators. Investors are advised to adopt a 'buy on dips' strategy, with risks defined below the 171,360 level. The index is expected to find support between 171,360 and 171,850 levels, and a breach below these could indicate a resumption of the downtrend. The current support and resistance levels are noted at 171,797 and 172,715, respectively.

In other market activities, the report highlights PPL's consolidation above key averages, recommending a 'buy on dips' strategy with targets set at Rs233.65 and Rs240.84, and a stop loss at Rs229.56. Similarly, UBL is supported at the 200-DMA, with a 'buy on dips' approach targeting Rs436.56 and Rs441.90, and a stop loss set at Rs429.40. The data was compiled and provided by JS Global.