Karachi: The Karachi Stock Exchange (KSE-100) index witnessed a significant surge, continuing its upward trajectory as it closed with a gain of 1,421 points, settling at 133,370. This comes on the back of robust trading activity, which jumped by 73% compared to the previous session.

The day's trading began on a positive note, with the index maintaining its bullish momentum to reach an intraday high of 1,913 points. The Moving Average Convergence Divergence (MACD) indicator remains in a bullish position, having traded above its signal line for six consecutive sessions. Over this period, the index has climbed 7.23%, fluctuating between a range of 122,223 and 133,862.

Technical analysis suggests that immediate support for the index lies at 132,900. A breach of this level could see the index decline further to 132,300 and 131,800. Conversely, resistance is anticipated at 133,800, with additional targets set at 134,500 and 135,200. Investors are advised to consider accumulating positions near the support zone, with clearly defined risk parameters.

The data and insights were provided by AKD Securities Limited.