Karachi: The Karachi Stock Exchange's KSE-100 index saw a significant decline, dropping 3,559 points to close at 110,009. Trading volumes increased to 550 million shares from the previous 421 million. Analysts predict the index will test support at the recent low of 107,008, with potential to fall further to 104,472. Any upward movement is expected to encounter resistance between 112,450 and 113,420.

The relative strength index (RSI) and moving average convergence divergence (MACD) indicators have declined, reinforcing a bearish outlook. Market experts advise investors to remain cautious at current levels. Immediate support and resistance are noted at 107,192 and 112,641, respectively.

For DG Khan Cement (DGKC), moving averages are anticipated to limit further declines. The recommended strategy is to 'buy on dips,' with price targets set at Rs132.50 and Rs135.94, and a stop-loss at Rs127.27.

Sui Northern Gas Pipelines Limited (SNGP) is expected to find downside restriction at its 30-day moving average. The strategy here also suggests 'buy on dips,' with targets of Rs121.68 and Rs125.19, and a stop-loss at Rs116.00.