Islamabad: The Pakistan Stock Exchange's benchmark KSE-100 index is anticipated to experience further decline, prompting experts to urge investors to exercise caution. The index concluded at 147,344, marking a decrease of 151 points compared to the previous day's closing figures. Trading volume reached 935 million shares, surpassing the 857 million shares traded in the preceding session.

Market analysts predict the index will likely test support levels between 146,700 and 147,210. A drop below this range could trigger a further slide towards 146,057, eventually reaching the 30-day moving average (30-DMA) at 143,859. Conversely, any upward movement is expected to encounter resistance between 148,040 and 148,370.

Technical indicators like the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) are trending downwards, reinforcing the expectation of a corrective phase. Immediate support and resistance levels are identified at 147,021 and 147,854, respectively.

For Pakistan Petroleum Limited (PPL), analysts suggest a "buy on dips" approach, targeting price objectives of Rs179.97 and Rs184.65, with a stop-loss order set at Rs173.00. They perceive limited downside potential for the stock.

Regarding Habib Bank Limited (HBL), experts believe the correction phase has concluded and a recovery trend may commence. A "buy on dips" strategy is recommended for HBL, targeting Rs254.67 and Rs259.41, with a stop-loss at Rs246.75.