PSX to remain closed on Juma Tul Wida

The Pakistan Stock Exchange Limited (PSX) will remain closed on April 14, on account of Juma Tul Wida — the last Friday of the holy month of Ramadan.

In a statement, the PSX said: "All TRE (Trading Rights Entitlement) Certificate holders [of the exchange], staff and concerned are hereby informed that Pakistan Stock Exchange Limited will remain closed on Friday, April 14, 2023 on account of Jumatul Wida.”

It is pertinent to mention here that the Ramadan moon was sighted on March 22 and the first of the holy month fell on March 23 in the country.

With Eidul Fitr around the corner, people are expecting Eid on April 21. However, Ruet-e-Hilal Research Council Secretary General Khalid Aijaz on April 8, had ruled out the possibility, saying that the moon will not be sighted on April 20.

Speaking to Geo News, the official had said that the crescent marking beginning of Shawwal will be sighted after the completion of 30 days of Ramadan, according to which Eidul Fitr will fall on April 22, Saturday.

Aijaz had also predicted the time of the moon sighting, saying that the new crescent will be born at 9:13am on April 20 and its age will be less than 10 hours that day.

"For the crescent to be sighted, the duration should be more than 19 hours and even if the sky is clear that day [April 20], the moon wouldn't be spotted," he had said.

The month of Ramadan will last for 30 days and the 1st Shawwal will fall on April 22, he added.