Karachi: The KSE-100 index of the Pakistan Stock Exchange experienced a significant downturn, dropping by 2,321 points to close at 175,803, as bears dominated the trading session. The trading volume also declined, with 621 million shares exchanged, compared to 737 million shares in the previous session.

According to JS Global, the index is expected to trade within a range defined by the 50-day moving average (DMA) and the 30-DMA, currently at 174,148 and 178,021 levels, respectively. A decisive break above or below these levels is necessary for a clear directional trend. The momentum indicators remain mixed, offering no definitive trading perspective. Investors are advised to exercise caution and consider buying opportunities during market dips. The current support and resistance levels are noted at 174,830 and 177,735, respectively.

For specific stocks, DG Khan Cement (DGKC) and Habib Bank Limited (HBL) are highlighted for strategic trading. DGKC is recommended for a 'buy on dips' approach, targeting price levels of Rs210.76 and Rs213.99, with a stop loss at Rs203.07. Similarly, HBL is suggested to have limited downside risk, with a 'buy on dips' strategy aiming for Rs307.42 and Rs313.84, and a stop loss at Rs299.12.