Karachi: The KSE-100 index witnessed a decline, failing to hold onto its intraday high and closing down at 78,652, a decrease of 635 points day-over-day. Trading volumes increased slightly, with 533 million shares exchanged compared to the previous session’s 509 million.

According to JS Global, the index ended below its 50-day moving average (DMA), which is now seen as a resistance level at 78,811. The failure to stay above yesterday’s low of 78,612 could potentially push the index lower towards the 30-DMA, which stands at 78,214. The current market indicators present a mixed outlook, offering no definitive direction for traders. Investors are advised to maintain positions ‘long’ if the index remains above the 30-DMA. The designated support and resistance levels are now marked at 78,340 and 79,235, respectively.