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The market, explained
Plain-English writing on reading PSX companies, valuing them, and thinking clearly about risk.
Latest Market structure · · 3 min read
How PSX opening prices are calculated
PSX uses pre-open orders to determine an opening price through an ordered matching process. Learn its four decision rules and when no price is set.
Read itPSX trading hours: regular market sessions explained
A clear guide to PSX regular-market phases on Monday–Thursday and Friday, in Pakistan time, and what each session state means.
· 3 min read
Market structurePSX circuit breakers: per-scrip caps and market halts
PSX has per-security price caps and a separate KSE-30-triggered market halt. Here is how the current rules set each one.
· 5 min read
Market structurePSX Rights Shares vs Bonus Issues: What Holders Get
A PSX rights issue asks existing shareholders to consider a cash offer; a bonus issue is board-approved. Here is what each means and what to read.
· 4 min read
MethodHow a PSX IPO works: book building, subscription and allotment
Follow a PSX IPO from prospectus and price discovery to public subscription, allotment, refunds and listing.
· 5 min read
MethodHow PSX KMI-30 and KMI All Share work
KMI-30 selects and weights 30 liquid Shariah-compliant PSX shares. Learn how screening, ranking and index changes work—and what inclusion does not mean.
· 6 min read
MethodHow to build a defensible PSX stock shortlist
A practical way to test a PSX stock shortlist for concentration, business quality, valuation and missing evidence — without treating any stock as safe.
· 5 min read
MacroWhat moves the PSX market?
A source-led guide to the catalysts, transmission channels and evidence that explain moves in the Pakistan Stock Exchange.
· 6 min read
SectorsHow to compare PSX sectors
A source-led method for comparing PSX sectors by business drivers, balance sheets, market structure and evidence — not stock tips.
· 7 min read
ValuationHow to value a PSX company — PE, PB and dividend yield
The three ratios used to value a PSX-listed company, what each one actually measures, and where the underlying numbers come from.
· 5 min read
ValuationReading a Pakistani company's accounts
What a PSX-listed company actually files across a year — quarterly, half-yearly, annual — which figures are audited, and where every ratio's inputs come from.
· 5 min read
ValuationWhy PE ratios mislead on PSX cyclicals
A cyclical PSX stock's trailing PE looks cheap at the top of its earnings cycle and expensive at the bottom — with real cement and oil & gas numbers.
· 5 min read
MethodWhat You Need to Open a PSX Brokerage Account
The Customer Relationship Form behind every PSX account, and the document checklist that actually differs for individual, joint, minor and corporate holders.
· 6 min read
MethodCDC Sub Account vs Investor Account, the real difference
PSX calls the Investor Account "more secure." CDC's own onboarding rules show what that step actually requires — and what both account types now share.
· 5 min read
MethodHow to start investing in the PSX
The account-opening sequence PSX itself publishes — broker, CDC account, UIN — plus what a trade actually costs, sourced to the regulator, not a guide.
· 6 min read
Market structureHow the KSE-100 is actually built
KSE-100 is a total-return index based to 1,000 in November 1991, picking 36 sector leaders plus the next 64 by free float. No published weight cap exists.
· 6 min read
Market structurePSX market types: Ready, futures and spot
PSX trades in four ways — Ready Market (T+1), two futures contracts and the disclosed NDM (T+0 to T+60). "Spot market" is not one of them.
· 5 min read
Market structureBook closure and the ex-date, after T+1
PSX's ex-dividend rule changed with T+1 — from two settlement days before book closure to one. What the rulebook actually says, and what it doesn't.
· 7 min read
Market structurePakistan moved to T+1. What the evidence says
The PSX halved its settlement cycle in February 2026. What the US and India saw doing the same — and why Pakistan's index status probably won't move.
· 10 min read
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