Trading time at DSE, CSE curtailed amid corona fear

Trading on DSE and CSE will take place from 10:30am to 1:30pm without any break for an indefinite period

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.