KARACHI: Pakistan Stock Exchange (PSX) on Thursday announced a temporary change in duration for closing price determination and market timings.
The PSX said that in the context of the reclassification of Pakistan from MSCI Emerging Market Index to MSCI Frontier Market Index, all Market Participants are hereby informed that the following temporary changes in ‘Market Timings’ and ‘Closing Price Determination’ shall be implemented for the period mentioned hereunder:
1. CHANGE IN DURATION FOR CLOSING PRICE DETERMINATION:
The ‘Closing Price’ of Securities shall be determined over the last 120 minutes of the regular market session on the basis of Volume Weighted Average Price (VWAP) as against the current practice of last 30 minutes.
2. CHANGE IN MARKET TIMINGS:
Revised timing for Post Close Session, Trade Rectification/Modification session and Negotiated Deals Market shall be as under:
Market State:
Monday to Thursday
Post Close Session: 16:00 to 16:30
Trade Rectification / Modification: 16:30 to 18:15
Negotiated Deals Market (NDM): 09:15 to 18:15
Friday
Post Close Session: First session – Second Session 17:00 to 17:30
Trade Rectification / Modification: first Session – Second Session 17:30 to 18:45
Negotiated Deals Market (NDM): First Session 09:15 to 12:00 Second Session 14:30 to 18:45
The above changes shall remain effective from Friday, November 26th 2021 till Friday, December 3rd 2021. The timings shall be reverted back to the existing DTS w.e.f. Monday, December 6th 2021, the PSX said.
