MSCI led stocks started the opening session positively as investors rallied towards an early buy in for the upcoming inclusion due on 1st of June.
The market had gained a total of 250 points in the first 15 minutes since its opening.
After recommendation from various invested groups such as NCCPL, PSX and international brokers, SECP has introduced some measures to ensure smooth a smooth transition of the MSCI inclusion.
SECP has introduced a post-close session via which trading orders can be placed at close prices. In another effort to cater high volume expected in the coming days, SECP has also changed the formula for valuation of closing prices. The closing price for all shares will be determined on the basis of last two hours of the trading session.
Furthermore, in order to facilitate the trade settlements, SECP has extended the PSX timing for the real time gross settlement for the first week of Ramzan.