ISLAMABAD: The Pakistan Stock Exchange (PSX) Wednesday triggered market halt and continued with bearish trend as KSE-100 index closed at 27, 228.80 points as compared to 28, 564.83 points on the last working day with the negative change of 1336.08 points (4.68%).
A total of 145, 106, 869 shares were traded compared to the trade 98, 788, 497 shares during the previous day, whereas the value of shares traded during the day stood at 5.498 billion as compared to Rs2.484 billion during last trading day.
As many as 298 companies transacted shares in the Stock Market Wednesday, out of which 79 recorded gain and 205 sustained losses whereas the share price of 14 companies remained unchanged.
The three top traded companies were Maple Leaf with a volume of 14, 454, 000 shares and price per share of Rs 18.7, K-Electric Ltd with a volume of 11, 624, 000 and price per share of Rs 2.65 and Bank of Punjab XD with a volume of 7, 937, 000 and price per share of Rs 7.01.
Earlier in the morning, the PSX triggered Market Halt for 120 minutes due to 5 percent decline in KSE-30 index at 12: 20 p.m.
All the equity based derivative markets remained suspended for 120 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.