Islamabad: The KSE-100 index of the Pakistan Stock Exchange is poised to persist with its range-bound movements as it struggles to break past key resistance levels, closing slightly down by 77 points at 77,114. Trading volumes have declined from the previous session, indicating a cautious approach among investors.
According to JS Global, the index failed to overcome the 50-day moving average (DMA) resistance, which currently stands at 77,584. Support levels are identified between 76,860 and 77,090, with potential for a further drop to 75,662 if these are breached. The trading indicators remain mixed, suggesting an unclear outlook for the market. JS Global advises investors to maintain a cautious stance given the current market conditions.
The KSE-100 index continues to experience subdued trading, with significant resistance and support levels at 77,580 and 76,867 respectively. This ongoing uncertainty in the market underscores the need for investors to remain vigilant and responsive to any shifts in market dynamics.