Karachi: The KSE-100 index experienced a sharp decline, closing down by 742 points at 77,887 in a session dominated by bearish trends. Trading volumes rose significantly, with 383 million shares changing hands compared to the previous session's 313 million.

According to JS Global, the market's downturn brings it closer to the 50-day moving average (DMA) support level, currently at 77,341. Should the index break below this threshold, it could initiate a broader corrective phase in the market. Conversely, resistance is anticipated at 78,280, with a further barrier at the 30-DMA of 79,132. Technical indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) also reflect the prevailing negative momentum, advising investors to proceed with caution.

Support and resistance levels for the upcoming sessions are identified at 77,414 and 78,755, respectively.