Karachi, The KSE-100 index at the Karachi Stock Exchange concluded a positive trading session, marking an upward move by 374 points to close at 65,526. As per the investment advisory firm JS Global, trading volumes increased to 261 million shares from a previous count of 208 million.

According to JS Global, the market is anticipated to retest the recent high of 65,656 points. A breach above this level could set the pace towards a target of 66,196 points. On the contrary, any pullback in the index is likely to be cushioned by support between 65,140 and 65,330 points, with an additional safety net at 65,750 points. Despite the Relative Strength Index (RSI) showing signs of improvement, the Moving Average Convergence Divergence (MACD) is on a downward trajectory, presenting an unclear trading perspective.

JS Global advises investors to exercise caution at higher index levels and consider entering the market on dips. The immediate support and resistance levels are pinpointed at 65,333 and 65,688 points, respectively.

In the banking sector, The Bank of Punjab (BOP) shares appear to have stabilized, with recovery being a likely scenario. The advised strategy is to buy on dips, aiming for target prices of Rs5.79 and Rs6.15, with a stop loss at Rs5.19.

For Pakistan State Oil (PSO), the prevailing steady uptrend is expected to persist. The recommendation for investors is to buy on dips with target prices at Rs173.91 and Rs178.50 and a stop loss positioned at Rs166.93.