Karachi: The KSE-100 index, a key benchmark for Pakistan's stock market, experienced a significant rise, closing at 162,226, marking an increase of 1,291 points on a day-over-day basis. The trading volume stood at 1,030 million shares, a decrease from the previous session's 1,546 million shares.

The KSE-100 index is currently trading above its 30-day and 50-day moving averages, which may offer support against potential declines at the 162,000 and 161,625 levels, respectively. Resistance is anticipated at the 162,742 level, with a breakthrough potentially targeting the 163,600-163,940 range, and further reaching toward the recent high of 168,414.

Technical indicators, including the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), have shown upward movement, supporting an optimistic outlook for the market. Investment recommendations encourage a 'buy on dips' strategy, with defined risk below the 50-day moving average.

Specific stock recommendations have been outlined, such as Pakistan Petroleum Limited (PPL), where investors are advised to 'buy on dips' with targets set at Rs206.91 and Rs211.26, and a stoploss at Rs192.20. Similarly, for Attock Refinery Limited (ATRL), the strategy suggests purchasing during dips, aiming for Rs684.55 and Rs695.00, with a stoploss at Rs671.89.

These insights were provided by JS Global, indicating a strategic approach for investors navigating the current market conditions.