Karachi: A fire broke out at the Pakistan Stock Exchange building in Karachi city of Sindh province on Monday, leading to the suspension of operations at PSX, police said. No casualties were, however, reported in the fire on the fourth floor of the building, a police official said. The stock exchange was opened for the public in the afternoon after the fire brigade brought the douse under control and began the cooling process.
"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 (Monday)," PSX's General Manager and Chief Market Operations Officer Jawad H Hashmi said in a statement. Deputy Commissioner South, Altaf Saryom, said two PSX offices were damaged in the blaze. He said the police would conduct a probe as to how the fire started once the cooling process was over.
The fire initially broke out on the fourth floor of the building housing offices of the Ali Habib Trading Company, he said. According to Sindh Rescue 1122 spokesperson Hassaan Khan, no loss of life was reported and six fire engines, a snorkel and a water bowser were used to douse the flames.
The city has been witnessing scorching heat in recent weeks making electrical equipment and wiring more prone to heating up and catching fire. The metropolis has reported multiple fire incidents in recent months.
The KSE 100, the PSX's main index, has in recent months risen to a historic high, surpassing 80,000 points on the back of an International Monetary Fund bailout last summer that averted a default and more recently, amid continuing reforms under the lender's umbrella. On Monday, after trading resumed following the fire, the KSE100 was up 0.3%, or about 260 points.
(With inputs from agency)
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