The Pakistan Stock Exchange started the business activity on Thursday with a positive trend, as the benchmark index had major gains during the intraday trade.

According to the PSX website, the benchmark index, KSE-100 index, gained over 1,800 points or appreciated by 1.37% to reach to more than 62,600 at 10:12am.

On Wednesday, the PSX closed in a green zone after witnessing a volatile session. The benchmark KSE-100 Index gained 1,692.65 points or 2.86% to settle at 60,863.62 at the closing of the market.

The KSE-100 index witnessed a positive session to close at 60,864 level, up 1,693 points DoD, the JS Global outline said in its technical outlook on Thursday. Volumes stood at 669 million shares versus 671 million shares traded previously.

“The index is expected to target the 30-DMA that is currently at 61,652 where a break above that will resume the uptrend towards 62,926. However, any downside will find support in the range of 59,400-60,210 levels where a fall below that will target 57,940 (50-DMA),” it added.

The report said that the RSI and the Stochastic Oscillator had shown improvement, suggesting a recovery trend ahead. Investors were recommended to ‘Buy on dips’, with risk defined below 59,411. The support and resistance levels were at 59,411 and 61,663 levels, respectively.