Karachi: The KSE-100 index in Pakistan continued its downward trajectory, shedding 4,688 points to settle at 149,179, as bearish sentiments dominated the trading session. Trading volumes decreased slightly, with 298 million shares exchanged compared to 303 million shares in the previous session. The index now faces a critical support level at 148,748, with potential further declines toward the recent low of 144,119. Resistance is anticipated between the 150,620 and 152,500 levels, suggesting limited upward potential in the near term.

According to JS Global, technical indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) have declined, reinforcing a negative outlook for the index. Investors are advised to exercise caution at the current levels, with support and resistance established at 147,303 and 152,499, respectively. In the automotive sector, Honda Car (HCAR) prices have stabilized, and a recovery is anticipated. The recommended strategy is to 'buy on dips' with a price target of Rs170.22 and Rs181.26, and a stop-loss set at Rs156.00. Meanwhile, Maple Leaf Cement Factory (MLCF) is expected to consolidate, with a similar 'buy on dips' strategy targeting Rs81.80 and Rs84.30, and a stop-loss at Rs75.83.