Karachi: The Karachi Stock Exchange (KSE-100) experienced a significant drop, closing 670 points lower at 167,844 in a session marked by volatile trading activity. The market witnessed a decline in participation, with trading volumes dropping by approximately 37% compared to the previous session.

According to AKD Securities Limited, the index fluctuated between an intraday high of 1,110 points and a low of 1,034 points. From a technical perspective, the KSE-100 closed 45.9% below the upper Bollinger Band, while the bands were 26.05% narrower than usual. Over the last 10 sessions, the market recorded seven bearish candles against three bullish ones, resulting in a net of four negative closes. The Relative Strength Index (RSI) stands at 52.78, slightly above the neutral threshold.

Technical analysis indicates immediate support at 167,800, with a potential decline towards 167,100 and 165,800 if breached. Resistance levels are identified around 169,400, followed by 170,200 and 171,100. Accumulating positions with risk defined below the support zone is advised.