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Pakistan Stock Exchange resumes trading after 2-hour hiatus due to fire
Stock market trading resumed around 12:30 p.m. local time.
There were no casualties and the fire has been brought under control, Farrukh Khan, managing director of the Pakistan Stock Exchange, said. The situation is under control and employees have been allowed to return to their offices, the exchange said in a statement.
The market will follow the designated standard schedule for the remainder of the trading session without any changes, the exchange said in the statement.
Trading was initially suspended about an hour after it opened at 9:32 a.m. local time to give brokerages time to connect to backup servers. The benchmark KSE-100 index has gained about 30% in dollar terms since the start of the year and is one of the world’s best performers, according to data compiled by Bloomberg. The gauge was little changed Monday before trading was suspended. Trading began as scheduled, but several brokerages encountered problems, said Bilal Khan, head of institutional equity sales at Arif Habib in Karachi. The fire broke out an hour before trading was scheduled to begin and employees were not allowed to enter the building, said Humayun Javed, CEO of WE Financial Services, which has an office in the building. The fire started in one of the brokerages and did not spread, he said.
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Sources 2/ https://m.economictimes.com/markets/stocks/news/pakistan-stock-exchange-resumed-trading-after-a-two-hours-halt-as-a-fire-broke-out-at-the-main-building-in-karachi-on-monday-morning-/articleshow/111579563.cms The mention sources can contact us to remove/changing this article |
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