Pakistan Stock Exchange Building Attacked; Four Gunmen Killed

Pakistan Stock Exchange attack: Terrorists use grenades and guns in Karachi - many injured

The attack on Pakistan Stock Exchange took place on Monday in Karachi during which four militants were killed, however, four security guards along with one police officer embraced martyrdom.

The police chief, Ghulam Nabi Memon, told Reuters the gunmen attacked with grenades and guns after pulling up in a silver Corolla auto.

Why it matters: The Baluchistan Liberation Army (BLA), a separatist group designated a terrorist organization by the U.S. State Department, claimed responsibility, AP reports. The group is demanding independence for the country's southwestern Balochistan Province. Karachi police chief Ghulam Nabi Memon also backed Bukhari's statement, by saying attack was an "intelligence failure" on part of terrorists and, that since the attack on Chinese consulate, there have been other attempts that were foiled by security agencies.

Pakistani police and Rangers discovered more than a dozen hand grenades, boxes of ammunition, and several automatic rifles that the attackers had brought to the stock exchange.

China swiftly condemned the attack on the stock exchange in Karachi and expressed its support for Pakistan.

Responding to the Minister's remarks, the official said India condemns the terror attack that claimed the lives of at least five security personnel. "They cleared the building within the next 25 minutes [around 10:35am] so that the routine work at the PSX could resume".

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Four suspects have been killed, police said.

The Pakistan Stock Exchange (PSX) was under attack on Monday after four terrorists laden with sophisticated weapons stormed into the building from the parking area.

The stock exchange said in a statement the situation was still unfolding and management, with the help of security forces, was controlling the situation, Bloomberg reported.

The stock exchange has offices for hundreds of financial institutions and is situated in a high security zone along with head offices of banks and other businesses.

He said that the terrorists had planned a long assault, that included bloodshed and holding people inside the building hostage.

Previous year the BLA attacked a five-star hotel in the port city of Gwadar in Balochistan.

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