PSX Revises Settlement Dates Due to Ramadan Holiday 2026
To accommodate the banking holiday on Thursday, February 19, 2026 (1st Ramadan), the Pakistan Stock Exchange (PSX) and the National Clearing Company of Pakistan Limited (NCCPL) have officially revised the trading and settlement calendar.
Since banks are closed for public dealing due to annual Zakat deduction procedures, the clearing cycle for trades executed immediately before and on the holiday has been merged. This ensures liquidity stability and avoids settlement disruptions.
Revised Settlement Schedule – February 2026
The main adjustment affects trades executed on February 18 and 19.
| Trading Date | Trading Day | Settlement Date | Settlement Day | Cycle |
|---|---|---|---|---|
| Feb 18, 2026 | Wednesday | Feb 20, 2026 | Friday | Merged |
| Feb 19, 2026 | Thursday | Feb 20, 2026 | Friday | Merged |
| Feb 20, 2026 | Friday | Feb 23, 2026 | Monday | Regular |
What This Means for Investors
- Trades executed on Feb 18 and Feb 19 will both settle on Friday, Feb 20.
- Regular T+2 settlement resumes for trades executed on Feb 20.
- This merged cycle is a temporary operational adjustment.
PSX Ramadan Timing 2026
During Ramadan 2026, PSX operates under compressed trading hours.
Monday to Thursday
- Market Open: 9:17 AM
- Market Close: 1:30 PM
Friday
- Market Open: 9:17 AM
- Market Close: 12:30 PM
If you are searching for Pakistan Stock Exchange timings today, these Ramadan hours apply throughout the holy month unless a separate notification is issued.
Important Notes for Traders
No Netting Between T+1 and T+0
NCCPL has clarified:
- No netting will be allowed between T+1 and T+0 trades settling on Feb 20.
- Each transaction must be cleared independently.
This prevents mismatched exposures during the merged cycle.
MTS (Margin Trading System) Positions
- Leveraged buy positions executed on Feb 18 and Feb 19 must be taken up on the same trade date.
- These positions will not carry forward to the next trade day during this merged window.
Margin traders should carefully monitor funding obligations.
Collateral & Risk Management
Clearing members are advised to:
- Maintain sufficient collateral in the Risk Management System (RMS).
- Ensure margin coverage before close.
- Avoid reliance on same-day bank transfers due to banking restrictions.
Because banks are closed today, fund transfers may not reflect until the next working session.
Current Market Status – February 19, 2026
As of today:
- Banks are closed for the 1st Ramadan holiday.
- Trading at PSX remains operational.
- Settlement for trades executed today will be processed tomorrow (Friday), along with Wednesday’s trades.
- Friday session closes early at 12:30 PM under Ramadan timing.
PSX Ramadan Timing 2025 vs 2026
For those comparing PSX Ramadan timing 2025 Pakistan, the schedule remains largely consistent:
- Opening at 9:17 AM
- Early close at 1:30 PM (Mon–Thu)
- 12:30 PM close on Fridays
Minor operational differences may occur depending on moon sighting and official notifications.
Pak Qatar PSX – Clarification
Some investors search for Pak Qatar PSX. This typically refers to:
- Brokerage services or investment funds operating on PSX
- Shariah-compliant equities or Islamic investment platforms linked to PSX trading
PSX itself remains the central exchange platform where all listed securities are traded.
Why This Adjustment Matters
The merged settlement cycle ensures:
- No liquidity crunch
- Stable clearing operations
- Reduced systemic risk
- Smooth transition during Ramadan
Such structured adjustments reflect coordination between PSX, NCCPL, and banking institutions.
Investor Advisory During Ramadan
During compressed hours and merged cycles:
- Monitor intraday volatility carefully.
- Avoid over-leveraging.
- Confirm settlement obligations before session close.
- Track official circulars for any further updates.
