Pakistan Market: KSE-100 Surpasses 80,000 Mark Amid Rising Volumes

Karachi: The KSE-100 index achieved a significant milestone by closing above the 80,000 threshold, marking a notable gain in its recent trajectory. The index rose by 681 points, ending the day at 80,234, with trading volumes increasing to 537 million shares compared to 413 million shares in the previous session.

According to JS Global, the index's continued ascent is bolstered by strong technical indicators, with the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) both showing upward trends. The next targets for the KSE-100 are set at 81,135 and potentially reaching 82,329. Support levels are established between 79,810 and 80,120, suggesting a stable floor for any potential declines. Investors are advised to adopt a strategy of buying on dips, maintaining a stop loss below 79,697. The defined support and resistance levels stand at 79,818 and 80,527, respectively.