Karachi: Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Share Index plunged in early hours of the first day of the business week. PSX recorded the single largest slump in history of over 2,000 points and reached 35,927.98 as of 10.34 am. In the first few minutes after the start of trading, the index fell 2,106.78 points or 5.51%. Investors dumped shares and ran out of the market as they took cues from tumbling global stock markets and the worst crash since the Gulf war in 1991. “PSX has triggered a market halt at 9:37 am which will last for 45 minutes,” the management wrote in a press release. According to the new PSX rules, both indices and individual stocks can plunge or spike maximum by 7 per cent in a day. Previously, the limits were capped at 5% either side. What is Market Halt? “Market halt” procedure has been introduced by the Securities and Exchange Commission of Pakistan (SECP) in PSX regulations in December 2019. The action triggers when the KSE-30 index moves 4 % either way and remains there for 5 consecutive minutes. The objective of introducing market halt is to safeguard investors and market participants during volatile markets. During … Continue reading KSE-100: Single largest slump in history of over 2,000 points