Stock circuit breakers increased to 8.5% effective today
MG News | June 10, 2024 at 12:04 PM GMT+05:00
June 10, 2024 (MLN): The security-wise circuit breakers, that is the upper and lower locks on stocks have been increased to 8.5% from today, June 10, 2024.
This step comes in line with the Pakistan Stock Exchange (PSX)'s decision to gradually increase the security-wise circuit breakers by 0.5% on a fortnightly basis until they reach a 10% level.
Read: PSX to increase circuit breakers to 10%
The increase in circuit breakers will apply to Regular, Futures, and SIFC Market Symbols and there will be no change in Square Up (SQR) and FUTSQR circuit breakers at this stage.
Changes in circuit breakers for Square Up Markets, if any, will be communicated separately, PSX further said.
To recall, on May 27, the circuit breakers were increased by 7.5% to 8% Rs1, whichever is higher.
After today's increase, the PSX will follow the following timetable to incrementally increase circuit breakers to the desired 10% level.
| Implementation Date | Existing Circuit Breakers (CBs) | CB % increased by | Revised CBs |
|---|---|---|---|
| Monday, 24th Jun, 2024 | 8.5% or Re. 1 whichever is higher | 0.50% | 9.0% or Re. 1 whichever is higher |
| Monday, 8th Jul, 2024 | 9.0% or Re. 1 whichever is higher | 0.50% | 9.5% or Re. 1 whichever is higher |
| Monday, 22nd Jul, 2024 | 9.5% or Re. 1 whichever is higher | 0.50% | 10.0% or Re. 1 whichever is higher |
These amendments have already been approved by the Securities and Exchange Commission of Pakistan (SECP).
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