PSX temporarily changes shares’ closing price formula

KARACHI: The Pakistan Stock Exchange (PSX) has changed its formula to calculate the closing prices of shares in a bid to handle the expected foreign trade orders over the next week when Pakistan is scheduled to be upgraded to MSCI Emerging Market.The temporary changes in the formula would remain in place for about one week (May 26 to June 2, 2017).

The closing price of all shares will now be the average price in the last two hours of the trading session. At present, the closing price is the average price of the last 30 minutes. “As such, this is a temporary measure purely to facilitate expected large number of transactions in the transition to MSCI EM Index,” it said.

Published in The Express Tribune, May 25^th, 2017.

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