Karachi: The KSE-100 Index of the Pakistan Stock Exchange experienced another downturn, closing at 174,777 points, a decline of 1,690 points. Trading volumes reached 610 million shares, down from 784 million previously traded shares. The index is anticipated to test a support level at 174,563 points, with potential further declines targeting 172,259, followed by the 200-day moving average at 171,671 points. Any upward movement is expected to encounter resistance at 175,842, followed by the 30-day moving average at 177,454 points.

According to JS Global, technical indicators like the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) are also moving downward, indicating a negative outlook. Investors are advised to exercise caution at the current levels, with support and resistance identified at 174,279 and 175,558 points, respectively. In contrast, Pakistan State Oil (PSO) and DG Khan Cement (DGKC) are identified as having limited downside risks, with a recommended strategy of 'buy on dips', targeting specific price points for potential gains.