Karachi: The KSE-100 index surged to a record high, closing with a substantial gain of 2,328 points at 124,353. This marks the highest closing level for the index, which recorded an intraday peak of 2,564 points. Trading activity saw a significant uptick, with volumes rising by 41% compared to the previous session.

The Moving Average Convergence Divergence (MACD) indicator remains in bullish territory, continuing to trade above its signal line. This bullish trend has persisted for 18 sessions, during which the index has advanced by 4.87%, fluctuating between a high of 124,588 and a low of 116,860.

Current chart analysis indicates immediate support at 123,700. A breach of this level could lead to further declines toward 123,200 and 122,500. Conversely, resistance is anticipated around 124,800, with further potential targets at 125,400 and 126,200. Investors are advised to accumulate positions with a defined risk below the support zone, according to AKD Securities Limited.