Glossary · PSX Mechanics
LDCP
The price at which a stock finished trading on the previous business day. Serves as the reference point for calculating the day's allowable price movement under the PSX's circuit breaker rules.
01—What is LDCP?
The definition — and what it means in practice.
LDCP (Last Day Closing Price) is the price at which a share finished trading at the end of the previous business day. It is not today’s last traded price; it is the prior day’s official close that becomes a reference for the next session. Exchanges and market data systems use LDCP as the starting point for comparing today’s price moves and for applying rules tied to the previous closing level.
LDCP matters because it anchors how far a stock can move during the day and how you interpret daily performance. Most price-change figures you see (for example, “up” or “down” in rupees or per cent) are calculated versus LDCP, not versus your own purchase price. It is also commonly used when placing limit orders, setting alerts, and understanding why a stock may be unable to trade beyond a permitted range.
If a share closed yesterday at Rs 100 (its LDCP), today’s % change and daily price limits are measured from Rs 100, not from your buy price.
- LDCP is yesterday’s official closing price for a stock.
- Daily % change shown on screens is typically calculated versus LDCP.
- LDCP is the reference for exchange circuit-breaker (daily price limit) bands.
- LDCP is different from today’s last traded price during the session.
- It helps you frame limit orders, alerts, and day-to-day volatility.
02—How ldcp works on the PSX
The Pakistan-specific rules, conventions, and numbers.
On the Pakistan Stock Exchange (PSX), LDCP is a key input to the exchange’s daily price limit (circuit breaker) mechanism. For most equities, the allowable daily movement is set at ±10% or Re 1 around the previous close (LDCP), whichever is higher. That means the LDCP helps determine the day’s upper and lower price boundaries that trading can reach under normal conditions.
As a PSX investor, you will see LDCP in market watch and stock pages, alongside today’s last price, change, and percentage change. When a stock is near its day’s upper or lower boundary, it is often because trading has moved close to the limit derived from LDCP. This reference point also makes daily moves comparable across sessions, because each new trading day starts from the prior business day’s close.
03—Common misconceptions
Where investors most often get this wrong.
LDCP is the price I bought the share at.
LDCP is the previous business day’s closing price for the whole market. Your personal cost is your average purchase price, which can be different from LDCP.
LDCP equals today’s last traded price.
Today’s last traded price changes with each trade. LDCP stays fixed during the day because it refers to the prior day’s close.
Circuit breakers are based on today’s opening price.
For most PSX equities, daily limits are calculated around the previous close (LDCP), using ±10% or Re 1, whichever is higher.
04—Using ldcp on BSL
Where this term shows up across the platform — with live data.
- Check LDCP and today’s change for any symbol on the Stocks pages.
- Compare movers that are reacting around LDCP using Top Gainers.
- Track downside moves versus LDCP using Top Losers.
- Filter shares and view their recent closes in the Stock Screener.
05—Frequently asked questions
What investors ask about ldcp on the PSX.
Frequently Asked Questions
LDCP means Last Day Closing Price: the price at which a stock officially finished trading on the previous business day. It is widely used as the reference for showing today’s change and for applying daily price-limit (circuit breaker) ranges.
For most equities on the PSX, the daily circuit-breaker band is set at ±10% or Re 1 around the previous close (LDCP), whichever is higher. The resulting upper and lower levels define how far the stock can normally move during the session.
No. LDCP is yesterday’s closing price. Today’s closing price will become the LDCP for the next business day after the session ends and the close is recorded.
Using LDCP provides a consistent baseline for the day, so everyone measures the session’s move from the same starting point. It also links directly to daily price-limit rules that are based on the previous close.
LDCP is mainly a market-reference price used for daily moves and price limits. Settlement on the PSX is T+1 (one business day), and taxes such as withholding on dividends depend on filer status, not on LDCP.
06—Related terms
Keep building the picture.
A regulatory mechanism that temporarily halts trading in a security or the entire market when prices move beyond a defined threshold. On the PSX, individual stocks generally have upper and lower price limits of 10% or Re 1, whichever is higher, per session to prevent extreme volatility.
A temporary suspension of trading in a security ordered by the PSX. Can be triggered by a pending announcement, unusual price activity, or regulatory action.
A real-time electronic record of all buy and sell orders for a security on the exchange, showing prices and quantities at each level.
An instruction to buy or sell a security at a specific price or better. The order is only executed if the market reaches the specified price, giving the investor control over the execution price.
The degree of price fluctuation in a security or market over a given period. High volatility means prices move sharply and unpredictably. Low volatility indicates steadier, more predictable movement.
The current standard settlement cycle on the PSX, where trades are finalised one business day after the transaction date. The shift from T+2 to T+1 was implemented to reduce counterparty risk and improve market efficiency.
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