FLASHNEWS:

KSE-100 Shows Narrow Trading, Analysts Advise Caution

Karachi, The Karachi Stock Exchange's KSE-100 index displayed a restricted trading pattern, registering a modest decline amidst lower trading volumes.

According to JS Global, the KSE-100 index closed at 66,796 points, shedding 209 points, with trade volume shrinking to 239 million shares from the previous 313 million. Analysts forecast the index might retest its immediate support at 66,741 points, and a breach could lead to further corrections towards 66,493 and 65,989. Conversely, any upward momentum is likely to encounter resistance at 67,304. The technical indicators such as RSI and MACD suggest an unclear direction, prompting a cautious stance from investors, who are advised to capitalize on potential dips. Specific stocks such as MLCF and HBL present limited downside risks, with 'buy on dips' strategies suggested, accompanied by clear stop-loss levels.