Trading at the Pakistan Stock Exchange (PSX) resumed at 12:25 pm following a temporary suspension due to a fire breakout at the fourth floor of the main exchange building in Karachi. The incident, which occurred on Monday morning, prompted swift action from PSX officials and emergency responders.
In an official notice, the PSX assured stakeholders that the situation was under control and that brokerage firms’ staff were returning to their premises. Initially suspended at 10:25 am, trading in all securities was extended until 12:25 pm to facilitate a smooth reopening of the market.
Saeed Ahmed Soomro of PSX reported that four fire brigades promptly responded to the scene, managing the situation effectively. The affected floor housed brokerage houses, though the exact cause of the fire was yet to be determined.
Despite efforts to restore normalcy, connectivity issues persisted for some brokerage firms, impacting their ability to access exchange services. In an email to clients, a brokerage house confirmed the disruption and assured ongoing efforts by their IT team to restore connectivity.
This incident is not the first time PSX has faced such challenges. In 2018, a fire broke out on the rooftop of a PSX Broker’s building, swiftly contained within 40 minutes through PSX’s firefighting systems, minimizing disruptions to trading and clearing operations.
The temporary suspension of trading amid such incidents underscores the resilience and preparedness of PSX to handle emergencies. Market observers noted that the benchmark KSE-100 index, prior to the suspension, showed marginal gains, reflecting cautious investor sentiment amidst ongoing developments.
PSX continues to monitor the situation closely, emphasizing safety protocols and ensuring minimal disruption to market operations. As trading resumes, stakeholders remain vigilant, assessing any potential impact on market dynamics in the aftermath of the incident.
