Karachi: The National Clearing Company of Pakistan Limited (NCCPL) has released its quarterly review concerning the eligibility of securities within the Securities Lending and Borrowing (SLB) system, in alignment with the NCCPL Regulations of 2015. The report, dated October 16, 2026, outlines the inclusion and exclusion of various securities effective from October 30, 2026, a move that could signal shifts in market dynamics.
The detailed review, conducted in accordance with clause 7A.3.3 of the NCCPL Regulations, has introduced a list of 22 securities into the SLB Eligible Securities Category A. This inclusion allows these securities to be available for short selling, a mechanism that often reflects investor sentiment and market expectations. The newly added securities encompass a broad array of sectors, ranging from technology and energy to textiles and real estate.
Among those included are notable names such as AL-GHAZI TRACTORS LIMITED (AGTL), GUL AHMED TEXTILE MILLS LIMITED (GATM), ITANZ TECHNOLOGIES LIMITED (ITANZ), and TPL REIT FUND I (TPLRF1). The diversity in sectors represented by these companies highlights the broad-based approach of the review process.
Conversely, certain securities have been excluded from the eligibility list, primarily due to factors such as high impact cost and insufficient average daily traded volume. For instance, AGRITECH LIMITED (AGL) and KOHINOOR INDUSTRIES LIMITED (KOIL) have been removed because their impact costs exceed the threshold of 2, while LUCKY CORE INDUSTRIES LIMITED (LCI) faced exclusion due to its average daily traded volume falling short of the required 0.50% of its free float or 100,000 shares.
According to information available from the Pakistan Stock Exchange (PSX), this review and its resulting changes in securities eligibility are critical to maintaining a balanced and efficient lending and borrowing market. The adjustments ensure that only securities meeting stringent criteria are available for short selling, thereby potentially influencing liquidity and trading strategies in the market.
The SLB system plays a pivotal role in providing liquidity and facilitating efficient price discovery in the Pakistani stock market. As these changes take effect at the end of October, market participants will likely adjust their portfolios and strategies in response to the updated list of eligible securities.
The designated market category for this review remains focused on improving the operational efficiency of the securities lending and borrowing market, ensuring that it remains a robust platform for investors seeking to optimize their market positions.