ISLAMABAD-Despite market halt in the morning, the Pakistan Stock Exchange (PSX) Friday turned around and noted bullish trend as KSE 100 index closed at 36,060.88 points as compared to 35,956.69 points on the last working day with the positive change of 104.19 points (0.29 %).
A total of 290,470,770 shares were traded compared to the trade 230,698,940 shares during the previous day, whereas the value of shares traded during the day stood at Rs13.968 billion as compared to Rs9.837 billion during last trading day.
As many as 354 companies’ transacted shares in the Stock Market Wednesday, out of which 158 recorded gain and 182 sustained losses whereas the share price of 14 companies remained unchanged.
The three top traded companies were, Bank of Punjab with a volume of 31,115,500 shares and price per share of Rs 10.10, Maple Leaf with a volume of 25,705,000 and price per share of Rs27.58 and Fauji Cement with a volume of 20,948,500 and price per share of Rs17.18.
Earlier, the PSX triggered Market Halt for 45 minutes due to 4 percent decline in KSE-30 index at 09:25 a.m. All the equity based derivative markets remained suspended for 45 minutes. Pakistan Stock Exchange as a frontline regulator has introduced market halt action with approval of the Securities and Exchange Commission of Pakistan (SECP) in accordance with international best practices as a means to safeguard the interests of investors and stakeholders.
This is a standard protocol for risk management purposes which is triggered when the KSE30 index moves 4% either way and remains there for 5 consecutive minutes.
“Market halt” procedure has been introduced by PSX as a front line regulator in line with international best practices and approved by SECP in PSX regulations in December of 2019. The objective of introducing market halt is to safeguard investors and market participants during volatile markets.
During this halt, trading in all securities remains temporarily suspended in order to ensure a cooling off period and run a mark to market activity as a risk management measure.
PSX remains at the forefront of the Capital market to provide a fair, transparent, and efficient marketplace for the benefit of investors, issuers and all stakeholders.