KSE-100 Sees Volatile Trading Amidst Mixed Sector Performances

Islamabad: In the latest trading session, the KSE-100 Index experienced significant fluctuations, opening on a positive note but eventually closing with a 70-point loss at 80,213 points. The session was marked by a high of 345 points and a low of 203 points, with trading volumes slightly lower than the previous session.

According to AKD Securities Limited, the KSE-100's performance was influenced by varied sectoral movements as detailed in their latest analysis. Momentum oscillators indicate a volatile market ahead; the Relative Strength Index (RSI) stood at 74.00, suggesting overbought conditions, while the Moving Average Convergence Divergence (MACD) remains bullish, having crossed above its signal line 11 sessions ago. This technical indicator suggests that since the crossover, the index has gained 1.79%, with price movements ranging from a high of 80,889 to a low of 76,897.

Looking forward, the index might find initial support around 79,800 points. A fall below this level could lead to further declines towards 79,500 and 79,100 points. On the resistance side, the index may encounter hurdles near 80,500 points, with potential to push towards 80,900 and 81,400 points. Investors are advised to trade cautiously and consider accumulating positions near these support levels with defined risks.