Nasdaq OMX Group Inc.'s (NDAQ) Nasdaq stock market Tuesday extended its suspension of the rules requiring a minimum $1 closing bid price and the minimum market value of publicly traded shares through July 31.

Nasdaq has previously extended its suspension of these requirements for listed companies.

In the midst of the global economic turmoil, companies on both Nasdaq and rival NYSE Euronext (NYX) have seen their stock prices plummet. The move was initiated at a time when delistings were surging, with the Nasdaq's delisting pace last year nearly doubling that of 2007 and NYSE having the largest number of "for cause" delistings in five years in 2008.

The rules are slated to be reinstated on Aug. 3.

-By John Kell, Dow Jones Newswires; 212-416-2480; john.kell@dowjones.com