Karachi: The KSE-100 index witnessed a bearish trading session, starting positively but closing with a significant loss of 1,234 points to settle at 77,084 points. This downturn was accompanied by a decrease in trading volumes compared to the previous session, highlighting a cautious market sentiment.

According to AKD Securities Limited, the KSE-100 has experienced a 3.79% decrease since the Moving Average Convergence Divergence (MACD) indicator crossed below its signal line 11 sessions ago, marking a negative shift in momentum. The technical analysis suggests that the index may find initial support around 76,900 points. If this level is breached, further declines could target support levels at 76,500 and 76,200 points. On the flip side, resistance might be encountered near 77,700 points, with potential upward moves testing 78,200 and 78,500 points.

Investment strategies recommended include initiating buying positions near the support zone, with risk management parameters set just below these levels. The sector-wise performance remained mostly bearish with significant declines in major sectors such as banks, cement, and oil and gas exploration. Specific stocks like MCB, HBL, and UBL among others also reflected this trend, with detailed trading advice provided for each.