Karachi: The KSE-100 index encountered a bearish trading session marked by low volumes, as it opened positively but faced selling pressure throughout the day. Despite reaching an intraday high of 427 points, the index plunged to a low of 7,206 points before closing significantly lower, shedding 6,683 points to end at 172,170. Trading volumes decreased notably, falling by 46% compared to the previous session.
According to AKD Securities Limited, from a technical standpoint, the Moving Average Convergence Divergence (MACD) indicator remains bearish, trading below its signal line for 16 periods. Since crossing its moving average, the KSE-100 has declined by 8.52%, fluctuating within a range of 189,521 on the upside and 171,647 on the downside.
Immediate support is identified at 171,600, and a breach below this level may extend the decline toward 170,500 and 169,700. On the resistance side, levels are expected around 173,800, followed by 174,800 and 176,100. It is recommended to accumulate positions on dips with risk defined below the support zone.
The post KSE-100 Index Experiences Bearish Session with Declining Volumes appeared first on Pakistan Business News.