PSX halts trading as KSE-100 surges over 7pc in intra-day trading

Market opens for trading and records a high of 158,354.12 points, while the day’s low stands at 155,294.65 points

The Pakistan Stock Exchange (PSX) witnessed a sharp rally at the start of trading on Tuesday, with the benchmark KSE-100 index rising by 10,309.30 points to reach 156,789.44 points during intra-day trading.

Trading in the stock market was suspended for one hour after the market crossed the 7 per cent upside threshold due to the rapid increase.

According to instructions issued by the PSX administration, stock trading was halted at 9:22am after the market hit the upper lock and remained suspended until 10:22am.

The administration said trading resumed at 10:27am.

Read: Massive sell-off sends PSX into trading halt

The market opened for trading and recorded a high of 158,354.12 points, while the day’s low stood at 155,294.65 points.

The previous closing level of the index was 146,480.14 points.

Trading activity showed a volume of 189,386,276 shares, while the total value recorded in the market reached 16,877,920,340.

In the history of the Pakistan Stock Exchange, trading had previously been suspended for one hour on two occasions due to severe market declines. However, this was the first time trading was halted for an hour due to a major upward rally.