KSE-30 Index: First-ever market halt due to upper locks

Pakistan Stock Exchange triggered Market Halt on Friday at 10:52am due to 5.0 percent increase in KSE-30 index. It was the first ever market halt that was triggered when the market was in bullish mood and the KSE-30 Index saw a sudden increase of 5.0 percent.

The Pakistan Stock Exchange informed all the market participants that due to 5.0 percent increase in KSE-30 Index, market halt has been triggered at 10:52a.m. All equity and equity based derivative markets remained suspended for 60 minutes and reopened following a 5 minute pre-open session. All outstanding orders had been cancelled.

In March 2020, seven market halts were triggered by Pakistan Stock Exchange when the market was in the grip of bears due to panic selling on investor concern over spread of deadly coronavirus. However, the PSX witnessed aggressive buying on Friday due to a host of positive factors including SBP's surprise rate cut, deferment of G20 debt and provision of COVID-19 relief fund from the IMF.