May 23, 2002	Thursday	Rabi-ul-Awwal 10,1423

KARACHI, May 22: The Karachi Stock Exchange put a tighter cap on maximum price fall in any scrip on a single day on Wednesday.

A notice issued by the Managing Director, Noman Ahmed stated: “in view of the existing market conditions and to further strengthen the risk management measures”, it had been decided that existing circuit breakers i.e. 5 per cent or Re1 whichever was higher from the last closing price on daily basis be changed to 2.5 per cent or Re0.50 (50 paisa), whichever was higher in case of downward price fluctuation in all markets w.e.f. May 23, 2002.

The notice stated that the circuit breakers of 7.5 per cent or Rs1.50, whichever was higher would continue for the purpose of upward price fluctuations.