Trading resumed after being suspended at the Pakistan Stock Exchange (PSX) as a fire broke out at the fourth floor of the main exchange building in Karachi on Monday.
At 1:40pm, the benchmark index was hovering at 80,527.39 level, an increase of 314.60 points or 0.39%.
Trading at the market was halted for about two hours, from 10:25am till 12:30pm, after a fire broke out at the main building.
In its second notice on the subject, PSX informed “that the situation is under control and brokerage firms’ staff has started getting back to their premises”.
“To ensure smooth reopening of the market for all concerned, the
temporary suspension in trading in all securities has been further extended till 12:25 pm today,” it said.
Earlier, the PSX said trading in all securities has been temporarily suspended from 10:25 am to 11:25 am today, due to the fire that broke out in the brokerage firm’s office in the Stock Exchange building.
“Due to this incident, many of the firms are unable to access the building,” it added.
However, even at 11:35am, trading activity remained suspended with market talk suggesting another delay of around an hour.
Earlier, at 10:25am, before the suspension of trading, the benchmark KSE-100 was hovering at 80,240.83, an increase of 28.04 points or 0.03%.
Fire incident
Saeed Ahmed Soomro of PSX had informed media that four fire brigades reached the exchange and were managing the situation.
“The fourth floor consists of brokerage houses, however, the situation remains under control.
“However, at the moment it is difficult to ascertain the cause of fire,” he added.
In an email sent to clients by a brokerage house, and reviewed by media, it was stated that loss of connectivity was being experienced as well.
“Due to a fire incident in Pakistan Stock Exchange building we have lost our connectivity with the exchange,” said a brokerage house to its clients via email.
“Our IT team is working their utmost best to restore the connection.”
In 2018, a fire broke out in rooftop of PSX Broker’s building, which was managed through PSX’s firefighting system within 40 minutes without hampering the Trading and Clearing Operations of the Exchange.
Trading resumed after being suspended at the Pakistan Stock Exchange (PSX) as a fire broke out at the fourth floor of the main exchange building in Karachi on Monday.
At 1:40pm, the benchmark index was hovering at 80,527.39 level, an increase of 314.60 points or 0.39%.
Trading at the market was halted for about two hours, from 10:25am till 12:30pm, after a fire broke out at the main building.
In its second notice on the subject, PSX informed “that the situation is under control and brokerage firms’ staff has started getting back to their premises”.
“To ensure smooth reopening of the market for all concerned, the
temporary suspension in trading in all securities has been further extended till 12:25 pm today,” it said.
Earlier, the PSX said trading in all securities has been temporarily suspended from 10:25 am to 11:25 am today, due to the fire that broke out in the brokerage firm’s office in the Stock Exchange building.
“Due to this incident, many of the firms are unable to access the building,” it added.
However, even at 11:35am, trading activity remained suspended with market talk suggesting another delay of around an hour.
Earlier, at 10:25am, before the suspension of trading, the benchmark KSE-100 was hovering at 80,240.83, an increase of 28.04 points or 0.03%.
Fire incident
Saeed Ahmed Soomro of PSX had informed media that four fire brigades reached the exchange and were managing the situation.
“The fourth floor consists of brokerage houses, however, the situation remains under control.
“However, at the moment it is difficult to ascertain the cause of fire,” he added.
In an email sent to clients by a brokerage house, and reviewed by media, it was stated that loss of connectivity was being experienced as well.
“Due to a fire incident in Pakistan Stock Exchange building we have lost our connectivity with the exchange,” said a brokerage house to its clients via email.
“Our IT team is working their utmost best to restore the connection.”
In 2018, a fire broke out in rooftop of PSX Broker’s building, which was managed through PSX’s firefighting system within 40 minutes without hampering the Trading and Clearing Operations of the Exchange.
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