Pakistan Market Exhibits Positive Trend as KSE-100 Climbs, Analysts Advise Caution

Karachi, The Karachi Stock Exchange’s benchmark KSE-100 index displayed a positive trend by closing at 57,372 points, marking an increase of 294 points from the previous day. Trading volumes rose significantly, with 1,012 million shares exchanged compared to 718 million in the previous session.

According to JS Research, the current pattern of the KSE-100 index indicates a likely consolidation at these levels. The report highlights a key support level at 57,135 and a resistance level at 57,650. If the index falls below 56,738, it might signal the start of a corrective trend, with potential targets at 55,108 and 53,476 points. On the upside, resistance is expected between 57,650 and 57,750 points, and a break above these levels could see the index aiming for 59,294 points.

The analysis from JS Research does not identify clear trading opportunities at present, urging investors to remain cautious, especially at higher levels, and to consider buying on dips. For individual stocks, the research suggests a ‘Buy on dips’ strategy for United Bank Limited (UBL), targeting prices of Rs165.00 and Rs169.50, with a stop loss at Rs161.99. Conversely, for DG Khan Cement (DGKC), the advised strategy is ‘Sell on Strength’, with downside targets at Rs62.44 and Rs58.56, and a stop loss at Rs65.80.

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