Trading Halted After PSX Building Catches Fire

Update: Trading has resumed at PSX after almost 2 hours.

“This is in continuation to PSX Notice No.PSX/N-630 dated July 08, 2024. Please be informed that the market will resume at 12:25 pm and shall follow the standard Designated Time Schedule (DTS) for the rest of the trading session, without any change,” the main had bourse informed investors in a notice at 12:24 PM.

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Investors have stopped trading at the Pakistan Stock Exchange (PSX) temporarily after the fourth floor of the bourse building caught fire during the early hours of trade today.

The affected floor houses several brokerage firms. Reportedly, a short circuit caused the fire at the Aba Ali Habib Securities office in the PSX building.

Fire brigades are currently on the scene to manage the situation. Authorities have reported that the situation is currently under control.

“It is hereby informed to all TRE Certificate Holders and concerned that the 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,” the main bourse said in a notice to investors.

At the time of filing, the benchmark KSE-100 index was halted at 80,240, up 28 points at 10:40 AM.

“It is hereby 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,” PSX said in another notification released at 11:36 AM.