Orders and price rules on PSX
What PSX allows an order to say, and the band within which a price may move in a day, with the figures read from the exchange's company pages on 6 November 2026.
Market and limit orders
A limit order names the highest price you will pay (or the lowest you will accept); it executes only at that price or better, and it may not execute at all. A market order asks for the best price available when it arrives; it is more likely to execute and gives no control over the price. Which order types a broker offers, and how they are named on its screen, is on the broker's own page.
The limit price you can type is on the exchange's price grid: PSX quotes prices to two decimals, as the board here does, and an order price has to sit on that grid.
The circuit-breaker band
PSX prints, for every company, the lowest and highest price it allows for the day. On the 6 November 2026 reading the band runs 10.0% above and below the previous close for all 10 companies. For OGDC, for instance, the previous close is Rs 316.24 and the band is 284.62 to 347.86.
A price outside the band cannot trade that day. That caps how far a share can move in one session in either direction, and it is why a one-day change on this site never exceeds the band.
The previous close and XD days
The reference for the band and for the day's change is the previous close that PSX prints as LDCP. When a company goes XD, PSX adjusts the LDCP for the declared dividend, so the band moves with it. On the 6 November 2026 reading 5 of the 10 companies (MEBL, FFC, PPL, MCB, HBL) carry the XD marker.
Buying on or after the XD day means you do not receive the dividend that has been declared. Buying before it means you do. The marker on the PSX page is the signal; the dates are in the company's announcement.
The price step at each company's price
| Code | Close | Price step | One step, percent of the price | One step, per lot |
|---|---|---|---|---|
| PPL | Rs 217.96 | 0.01 | 0.005% | Rs 0.01 |
| ENGROH | Rs 272.41 | 0.01 | 0.004% | Rs 0.01 |
| HBL | Rs 299.89 | 0.01 | 0.003% | Rs 0.01 |
| OGDC | Rs 312.89 | 0.01 | 0.003% | Rs 0.01 |
| MCB | Rs 399.48 | 0.01 | 0.003% | Rs 0.01 |
| UBL | Rs 425.34 | 0.01 | 0.002% | Rs 0.01 |
| LUCK | Rs 427.23 | 0.01 | 0.002% | Rs 0.01 |
| MEBL | Rs 550.25 | 0.01 | 0.002% | Rs 0.01 |
| FFC | Rs 562.62 | 0.01 | 0.002% | Rs 0.01 |
| MARI | Rs 651.98 | 0.01 | 0.002% | Rs 0.01 |
Read: 07.11.2026 01:50
Reading the step table
The step is the smallest change an order price can make, and the table shows it as a share of each price. For a low-priced share a step of one paisa is a large fraction of the price; for a high-priced one it is a sliver. It is the exchange's rule, written here from the exchange's side rather than read from a source.
Check the order screen: it rejects a price that is not on the grid.
Summary
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Questions before a first share
Can I place an order outside trading hours?
Brokers differ on whether they accept orders outside the session and on when such an order is sent to the exchange. The broker's order-entry page says.
Does the limit price have to be the close?
No. It is whatever price you choose on the exchange's grid; the close is only a reference. An order with a limit far from the market may simply not execute.
Where is the rule written?
In the exchange's rules and notices. This page restates them from the exchange's side and shows the figures the exchange's own pages print; for a decision, read the notice.
Ready to open an account?
The account this site links to is a CFD account on global share prices, not a way to buy PSX shares. Read the difference before signing up.