Karachi, The KSE-100 index experienced a session of consolidation within a narrow range, ending with slight gains. The index, which is a key indicator of market performance in Pakistan, displayed high volatility, as indicated by the significant widening of Bollinger Bands, a popular technical analysis tool. The market's latest movements reflect a complex interplay of factors influencing investor sentiment and market dynamics.

According to AKD Research, the KSE-100 opened positively and recorded a high of 181 points and a low of 233 points before closing with a marginal gain of 14 points at 56,680 points. The trading volumes in the last session were higher compared to the previous session, pointing to increased market activity. The Bollinger Bands, being 145.31% wider than usual, indicate heightened volatility beyond the normal range. Over the past ten trading sessions, there have been seven white (positive) candles and three black (negative) candles, resulting in a net of four white candles, suggesting a mild positive bias in the market.

The technical analysis provided by AKD Research suggests that the index may find initial support near the 56,300-point level. A break below this support could lead to further weakness, potentially driving the index towards 56,100 and 55,700 points. Conversely, the index may encounter resistance around 56,800 points, with potential upward movement towards 57,500 and 58,100 points. Given the current market conditions, investors are advised to adopt a cautious approach and consider accumulating positions during periods of market weakness.