PSX glitch misprices BAFL

May 05, 2026 (MLN): A pricing error at the Pakistan Stock Exchange briefly skewed the ex-dividend reference price of Bank Alfalah Limited (BAFL), but the bourse opted against intervention, citing intact market integrity.

The exchange disclosed that PKR 3.00 was mistakenly deducted from the stock’s previous close of PKR 59.95, instead of the actual dividend entitlement of PKR 1.50.

This led to an incorrect ex-price of PKR 56.95, versus the correct level of PKR 58.45.

The miscalculation also compressed the circuit breaker band to [51.26 – 62.65], compared to the accurate range of [52.61 – 64.30], potentially distorting trading thresholds during the session.

Despite the error, PSX noted that active trading persisted, with prices moving within the true fundamental range, enabling what it described as fair price discovery through arm’s length transactions.

“Given the orderly market behavior, there is no need to disturb executed trades,” the exchange said, confirming that all transactions and the session’s closing price will remain final.

To correct records, the exchange will revise BAFL’s previous closing price to PKR 58.45, aligning it with the actual dividend adjustment.

The episode indicates a rare operational slip, but also highlights the exchange’s confidence in market resilience, even when systems momentarily falter.

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