Karachi: The Karachi Stock Exchange (KSE) witnessed another challenging session as its benchmark KSE-100 index fell by 907 points, closing at 165,267. This decline marks a continuation of a corrective trend that the market has been experiencing.

Trading volumes were recorded at 1,275 million shares, showing a slight increase compared to the previous session's 1,266 million. Analysts predict that the index may test its support at 165,110, yesterday's low. Should the index fall below this level, the downward trend is expected to persist, with 162,113 identified as the next target.

Market analysts have pointed out that any potential upside will encounter resistance between 165,770 and 166,950. The Relative Strength Index (RSI) and the Stochastic Oscillator, both moving downwards, further support this corrective outlook. Investors are advised to exercise caution with any upward movements and consider waiting for market dips before making moves.

In specific stock recommendations, DG Khan Cement Company (DGKC) is projected to recover, with a strategy to 'Buy on dips', targeting price points of Rs249.28 and Rs254.34. A stop loss is advised at Rs239.80.

Similarly, Pakistan State Oil (PSO) is targeting its recent high, with a 'Buy on dips' strategy suggested. The target prices are set at Rs485.30 and Rs494.80, with a stop loss placed at Rs469.94.

These insights and analyses are provided by JS Global, which continues to monitor the market conditions closely.