Karachi: The KSE-100 index continued its downward trajectory, closing at 159,097, marking a decrease of 481 points from the previous day. The trading volumes increased slightly to 957 million shares compared to the prior session's 860 million shares.

The index is presently trading below the 50-day moving average, limiting any upward movement to the 160,300 level. A breakthrough at this level could target the 30-day moving average at 163,643. Conversely, a drop below 158,253 may lead to further declines towards the recent low of 156,328. Technical indicators such as the Relative Strength Index and the Stochastic Oscillator are pointing downwards, reinforcing a cautious outlook for investors. The support and resistance levels are set at 158,036 and 160,374, respectively.

In stock-specific updates, DG Khan Cement Company (DGKC) is witnessing a bullish divergence, with a strategy of 'buy on dips' targeting price points at Rs220.01 and Rs226.10, while maintaining a stoploss at Rs210.16. Meanwhile, Habib Bank Limited (HBL) is trading within a range, with a 'buy on dips' strategy targeting Rs301.34 and Rs308.84, and a stoploss set at Rs283.56.

These insights are provided by JS Global, suggesting investors exercise caution when considering movements in the current market environment.