Karachi: The KSE-100 Index witnessed a significant downturn, shedding 938 points to settle at 112,801, as trading volumes fell by 57% compared to the previous session. This bearish trend saw the market close below the upper band by 44.9%, indicating a challenging day for investors and traders.

According to a statement by AKD Securities Limited, the Index’s movement was marked by a high of 705 points and a low of 938 points, reflecting heightened volatility. The narrowing of Bollinger Bands by 40.79% compared to their normal width suggests a potential increase in volatility in the near term.

The technical analysis highlights key support levels near 112,500, with a risk of further decline if this threshold is breached. Potential downward targets include 111,800 and 111,300. On the resistance front, the Index faces initial hurdles at 113,500, with additional targets at 114,000 and 114,500.

Market analysts recommend accumulating positions near the identified support levels, while clearly defining risks below the support zone to navigate the current market conditions.