The board of directors of the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) on Wednesday decided to curtail trading time by one hour amid free-fall triggered by coronavirus concerns.
From now on, trading on both the bourses will take place from 10:30am to 1:30pm without any break for an indefinite period instead of the regular trading hours from 10:30am to 2:30pm, according to separate press releases issued by both the bourses.
Stocks continued to bleed today as investors extended their sell-offs. The key index of DSE, DSEX, plummeted 168.6 points or 4.5% amid volatility throughout the session. The index dropped to 3,603.9 points with a 5.5% increase in turnover at Tk429 crore.
The main index jumped over 106 points within five minutes of trading on the news of banks' investment in the market but investors' panic-driven sell-offs to escape losses was predominant hence the market refused to stay positive and suffered another free-fall, said EBL Securities Limited in its daily market commentary.
Market insiders and experts said investors dumped their holdings amid growing concern over coronavirus as the death of a coronavirus-infected person and 14 cases of COVID-19 were confirmed in the country.
On Sunday, Bangladesh Pujibazar Biniogkari Oikya Parishad demanded closure of the stock market for the next two weeks.
