Karachi July 3 2023: Trading at Pakistan Stock halt for an hour as KSE 30 index surged more than five percent on opening due to IMF bailout.
Market will open at 10:37 AM.
According to Pakistan Stock Exchange regulations, the Exchange shall apply index-based market halt in case KSE-30 index moves 5% either way from its last day closing index value.
In case, KSE-30 Index continues to trade 5%, above or below its last day closing index value for consecutive 5 minutes, the trading in all securities shall be halted for such duration as specified by the Exchange. Upon imposition of a market halt, all equity and equity based derivative markets shall be suspended and the market shall have a five (05) minutes pre-open before its re-opening. Moreover, NCCPL shall collect margins including Mark-to-Market losses from its Clearing Members as per its Regulations. Only those BCMs shall be allowed to trade after resumption of trading for that day which have deposited the required margins with NCCPL.
Provided that the market halt shall not be applicable in case KSE-30 index moves beyond 5% during such duration prior to close of the market as specified by the Exchange.