Karachi: The KSE-100 index ended its latest session in the red, maintaining a bearish trend by closing down 440 points to settle at 78,030. The local bourse struggled throughout the trading day, beginning on a negative note and never recovering, ultimately closing above the lower Bollinger Band by 8.3%.

According to AKD Securities Limited, trading volumes were lower than in the previous session, highlighting reduced investor participation. Technical analysis reveals that the index is trading below the 30-day Simple Moving Average (SMA), which is a bearish signal and suggests a potential approach towards the 50-SMA. The Daily Parabolic SAR (Stop and Reverse) is also indicating downward pressure, as it appears above the current index level, suggesting continued bearish conditions.

Further analysis indicates possible initial support for the index around 77,900 points. Should the index break below this level, it could see further declines towards 77,600 and 77,100 points. On the upside, resistance is likely near 78,500 points, and surpassing this could lead the index towards higher resistance levels at 78,800 and 79,100 points. Traders are advised to maintain a cautious approach and consider using a stop-loss strategy to manage risks effectively.