Karachi, The KSE-100 index, a benchmark of the Pakistan Stock Exchange, exhibited a notable ascent, closing at a height of 50,732 points, a 367-point surge. Amidst this positive shift, experts speculate the potential for the index to soon retest recent highs, but also caution investors about the likelihood of a market correction, hinting at optimal buy-in opportunities during potential forthcoming dips.

According to a research report by JS Securities Limited, the trading volumes for the day were recorded at 430 million shares, a minor increment compared to the preceding 427 million shares. The technical outlook suggests that the index could potentially approach the previous Friday's zenith of 50,953. A successful breach of this level may set sights on the 51,528 mark and even extend gains to reach 52,460. Conversely, if the market undergoes a downward trend, it is anticipated to find support between 50,390 and 50,670 points. A decline surpassing these boundaries might steer the market towards a correction phase, targeting the 49,384 level. Based on these projections, the report advises investors to practice restraint at higher market levels and anticipate dips for more favourable investment conditions. Notably, the defined support and resistance levels are pegged at 50,392 and 51,012 points, respectively.

In addition to the broad market analysis, the report specifically highlights two major entities, HBL and ENGRO. HBL is depicted as gaining traction, with the recommendation to "buy on dips" targeting share prices of Rs100.94 and Rs103.49, while maintaining a stop-loss at Rs97.60. On the other hand, ENGRO's upward trajectory remains undeterred. Here too, the "buy on dips" strategy is proposed, aiming for Rs285.52 and Rs297.09 price points and a stop-loss set at Rs276.11.