Karachi: The KSE100 index saw a decline in trading on Monday, closing 340 points lower at 170,426, as market participation weakened significantly. The index experienced a range-bound session, reaching an intraday high of 361 points and a low of 645 points. Trading volumes fell by approximately 35% compared to the previous session.

According to AKD Securities Limited, the KSE100 index is currently 1.1% below its 200-period moving average, indicating a downward trend. The volatility remains normal in comparison to the average over the last ten periods, while volume indicators suggest moderate outflows, pointing to a mildly bearish sentiment. Trend forecasting oscillators have maintained a bearish outlook for the index over the past 14 periods.

Technical analysis suggests immediate support for the KSE100 at 170,100, with potential for further decline to 169,400 and 168,800 should this support be breached. Conversely, resistance levels are expected around 171,100, 171,800, and 172,800. Investors are advised to consider accumulating positions with defined risk below the support zone.