FLASHNEWS:

KSE-100 Reaches New Heights Amidst Increased Trading Volumes

Karachi, The Karachi Stock Exchange (KSE-100) experienced a highly volatile trading session, reaching a new intraday high of 64,958 points and closing with an 800-point gain at 64,718 points. The trading volume observed was significantly higher than in the previous session, reflecting strong investor participation and market momentum.

According to AKD Securities Limited, the KSE-100 index is currently performing well, standing 41.3% above its 200-period moving average and showing an upward trend. The market is experiencing high volatility compared to the average over the last ten trading sessions, and volume indicators suggest a strong influx of volume into the Index. Trend forecasting oscillators indicate a bullish sentiment for the local bourse.

The technical analysis of the KSE-100 index suggests that it may find initial support near the 64,500 points level. However, a break below this support could lead to further declines towards 64,100 and 63,600 points. On the upside, resistance is expected near 65,000 points, with potential to reach higher levels of 65,600 and 65,900 points. Investors are advised to accumulate positions cautiously, considering the current market dynamics.