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Karachi terror attack: Trading at PSX remains unaffected

SAMAA | - Posted: Jun 29, 2020 | Last Updated: 1 week ago
SAMAA |
Posted: Jun 29, 2020 | Last Updated: 1 week ago
Karachi terror attack: Trading at PSX remains unaffected

Photo: SAMAA Digital/Roohan Ahmed

The Pakistan Stock Exchange (PSX) came under a terrorist attack Monday morning, however, the trading remained indifferent to it.

BMA Head of Research Faizan Ahmed said that the KSE-100 Index has been moving up. It is an insignificant movement so far but still, it shows that selling did not occur in response to the terrorist attack.

Four terrorists attacked the PSX old building and security forces killed all of them. A sub-inspector and two security guards have also reportedly been killed. Seven men, including three policemen, two security guards, an employee of the stock exchange, were injured.

According to the spokesperson, it was a normal working day at the PSX building.

The staff at the PSX building, which also houses several branches of different banks, had already been reduced in response to the COVID-19 pandemic.

At the time of filing of this report, the benchmark KSE-100 index moved up 245 points, which saw the index standing at 34,185 points as compared to the previous working day’s closing of 33,939.

At the time of the attack, approximately 10am on Monday, the index was at 33,939. The index lost 219 points within 15 minutes but recovered within one hour and then gradually moved up.

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