Karachi: The KSE-100 index experienced a modest increase, gaining 575 points to close at 177,167, as range-bound activity persisted in the market. Trading volumes were recorded at 689 million shares, a slight increase from the previous session's 665 million shares. The market is poised to test resistance at the 30-day moving average (30-DMA) of 177,562, while potential support is anticipated between 175,480 and 176,110.

According to JS Global, if the index breaks above the 30-DMA, it could target the 50-DMA at 178,433. However, a decline below the support range could push the index down to 174,416. The current mixed momentum indicators suggest a neutral outlook, prompting a cautious approach for investors, particularly on the higher side, with a recommendation to wait for market dips. Key support and resistance levels are identified at 176,324 and 177,796, respectively.

In other market movements, OGDC closed above its 50-DMA, with a recommended strategy of 'buy on dips,' targeting price points of Rs329.75 and Rs335.00, and a stop-loss at Rs319.14. Meanwhile, HBL's correction is deemed complete, with a similar 'buy on dips' strategy, targeting Rs323.01 and Rs330.06, with a stop-loss at Rs312.77.