Major fire at Pakistan Stock Exchange in Karachi, trading suspended

Karachi stock exchange fire: Trading activity has been delayed and all traders have been safely rescued, local media reported.

Updated on: Jul 8, 2024, 13:14:26 IST

By HT News Desk | Edited by Mallika Soni

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Karachi stock exchange fire: A massive fire broke out on the 4th floor of the Pakistan Stock Exchange (PSX) building in Karachi, local media reported. Fire brigade vehicles were working to extinguish the flames while trading activity has been delayed, the reports claimed.

Karachi stock exchange fire: Fire brigade vehicles were working to extinguish the flames.

All traders have been safely rescued, the reports added.

The Karachi stock exchange website also said trade had been suspended.

The situation is under control and employees have been allowed to get back into their offices, the exchange said in a notice. Trading started on schedule but several brokerage houses were having issues, Bilal Khan, head of institutional equity sales at Arif Habib in Karachi, said as per Bloomberg.

The fire started one hour before trading was slated to begin and employees were not allowed inside the building, Humayun Javed, CEO at WE Financial Services, said. The fire started at one of the brokerage houses and didn’t spread, he said.

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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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