KARACHI: Trade continued for 195 seconds beyond the scheduled closing at 1pm at the Pakistan Stock Exchange (PSX) on Friday (April 17).
This was disclosed in the incident report the PSX submitted to the Securities and Exchange Commission of Pakistan (SECP).
During the extended session, a total of 3,492,550 shares were traded, which account for 1.01pc of the total traded volume, and 0.79pc in terms of value.
PSX, however, considers this trade valid owing to the negligible number of trades and wide market participation in the 195 seconds.
The PSX, in a press release, call this an “operational error”. The exchange explains that the error could be attributed to the first-ever upper market halt activated at the PSX and the complexities that follow from work from home due to COVID-19.
“The system required certain manual procedures that were not performed on time, partly owing to the remote work from home policy currently in place due to the lockdown situation.”
| April 17, 2020 1:00 PM | April 17, 2020 1:01 PM | |
| KSE 100 | 32,809.43 | 32,818.87 |
| Volume | 200,619 | 239,273 |
On Friday the KSE-30 Index hit its upper level for the first time, causing a 60-minute market halt at 10:52 am.
