“The market halt is triggered as a standard protocol for risk management purposes,” stated a PSX press release. “The objective of introducing the market halt is to safeguard investors and market participants during volatile trading,” said the PSX statement. Echoing similar sentiments, AHL Head of Equity Sales Saad bin Ahmed said, “The oil market is facing a rout. Fauji Cement was the volume leader with 30.7 million shares, gaining Rs1.21 to close at Rs18.69. It was followed by The Bank of Punjab with 23 million shares, losing Rs0.79 to close at Rs10.72 and Maple Leaf Cement with 22.5 million shares, gaining Rs1.96 to close at Rs29.98.

Source: The Express Tribune March 09, 2020 05:31 UTC