Karachi, The KSE-100 index started on an upbeat note and maintained its momentum throughout the last trading session, according to a report from AKD Securities Limited. The index hit a peak increase of 968 points and eventually settled at 50,365 points, marking a gain of 938 points. Trading volumes observed in this session exceeded those of the previous one. The recent high of the Index was not only revisited but surpassed as the market closed. The Index’s performance well above major moving averages on the daily chart is noteworthy, with the Parabolic SAR currently below the Index’s present level.
Based on the chart formation, the Index is anticipated to find initial support near 49,900 points. Any breach below this support could lead to a further slide towards 49,500 and then 49,200 points. On the flip side, initial resistance is expected near the 50,400 point mark, possibly stretching towards 50,800 and then the 51,100 area. Traders are advised to consider accumulating positions on weakness and to tread with caution.
The post KSE-100 Index Posts Strong Gains, Ends at 50,365 Points appeared first on Pakistan Business News.