Karachi: The KSE-100 index witnessed a significant surge as it maintained an upward trajectory throughout the trading session, closing at 158,313 points—up by 4,347 points. The market observed a substantial increase in trading activity, with volumes rising by approximately 58% compared to the previous day.

According to AKD Securities Limited, the index is currently trading just below its 200-period moving average, indicating a slight lag of 0.2%. Despite elevated volatility levels compared to the average of the past 10 trading sessions, volume indicators show a balanced inflow and outflow, suggesting a neutral trend in volume. Short-term charts continue to signal a positive trend, bolstered by trend forecasting oscillators pointing towards a bullish outlook.

Momentum indicators reveal a bullish divergence, with the Relative Strength Index (RSI) hitting a new 14-period high at 47.10, marginally below the neutral level. Immediate support is identified at 157,800 points; a decline below this level could push the index down to 157,200 and 156,500. Resistance is anticipated around 158,900, with further levels at 159,700 and 160,600. The recommendation remains to accumulate positions with risks managed below the supportive areas.