Karachi: The KSE-100 index closed at 173,156 points, marking a gain of 959 points in a session characterized by range-bound trading. Trading volumes decreased to 1,165 million shares from the previous 1,296 million. The index faces resistance levels between 174,400 and 175,300, with a potential upward target of 179,280. Support is anticipated within the 171,300-172,230 range, with further declines possibly reaching the 50-day moving average at 162,547. Investors are advised to remain cautious and consider buying on dips.

According to JS Global, the momentum indicators for the KSE-100 index are mixed, providing no definitive trading direction. Investors are recommended to exercise caution on the higher end and wait for market dips before making significant investments. For Pakistan State Oil (PSO), the suggested strategy is to 'buy on dips' with a target range of Rs392.70 to Rs401.00 and a stop-loss set at Rs377.34. For Oil and Gas Development Company (OGDC), a similar 'buy on dips' strategy is advised, targeting Rs329.00 to Rs336.20, with a stop-loss at Rs321.11.