Karachi: The KSE-100 index has continued its record-breaking run, closing above the crucial 87,000 level, driven by robust gains in cement and steel stocks. The market’s upward trajectory appears set to persist, with analysts forecasting further increases.

According to JS Global, the bullish momentum in the KSE-100 index is expected to continue, with an immediate target set at 89,170, potentially rising to 92,250. The index’s recent low of 84,770 serves as an initial point of caution, and a drop below the 30-day moving average, currently at 83,170, would challenge these forecasts.

Cement and steel sectors, which recently faced declines, have shown signs of recovery, stabilizing and gaining bullish momentum. Key players like DGKC, MLCF, CHCC, PIOC, INIL, ISL, and MUGHAL are anticipated to perform strongly in the upcoming trading sessions, contributing to the overall market strength.