Karachi: The KSE-100 index of the Pakistan Stock Exchange rose significantly, closing at 168,019, marking an increase of 1,455 points. This surge was accompanied by a rise in trading volumes, with 517 million shares changing hands compared to 443 million shares in the previous session. The index's close above the 30-day moving average (DMA) suggests a potential restriction of downside movement at the 167,014 level, with a risk of resuming a downtrend if it falls below this point. A break above the 168,470 level, which was the previous day's high, could see targets at the 50-DMA of 169,335 and further at the 200-DMA of 171,338.

According to JS Research, technical indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) have shown upward movement, supporting a positive outlook for the market. Investors are advised to adopt a 'Buy on dips' strategy, while keeping risk defined below the 30-DMA. The current support and resistance levels stand at 167,395 and 168,556, respectively.

In related market analysis, International Steels Limited (ISL) is expected to continue its uptrend, with recommended buy targets at Rs81.72 and Rs85.19, and a stoploss set at Rs78.78. Similarly, D.G. Khan Cement Company Limited (DGKC) has closed above its 30-DMA, with buy targets at Rs188.28 and Rs191.84, and a stoploss at Rs183.80.