Bourses to remain shut next week
The stock market will be shut throughout next week as the government has announced closure of all public and private offices as part of its efforts to contain the spread of the coronavirus.
The Dhaka Stock Exchange (DSE) took the decision at a board meeting at its Nikunja office in the capital. The Chattogram Stock Exchange (CSE) also took a similar decision.
On Monday, the government announced general holiday from March 29 to April 4 to slow the spread of the highly contagious virus. "Following the order, we also announced to shut the market next week," the DSE said in a press release.
During the week, the DSE office will be closed, it added.
As the banking hours will be curtailed to the bare minimum, it is not possible to keep the market open effectively, said a DSE director.
All public and private banks would remain open from 10:00am to 1:30pm on regular working days from March 29 to April 4, according to the central bank.
"The unprecedented epidemic should be controlled first because investors are also frightened," the director said, adding that many other activities of the stock market have already been interrupted by the COVID-19.
A number of companies informed stock investors yesterday through the DSE website that their upcoming annual general meetings have been postponed. The companies are: IPDC, Reliance Insurance, Nitol Insurance, Takaful Insurance, Delta Brac Housing and Green Delta Insurance.
The move from the bourses came as stocks on the DSE dropped 8.18 points, or 0.20 per cent, to close the day at 3,976.52.
Turnover, another important indicator of the market, fell 45 per cent to Tk 139.54 crore.
Of the 352 listed companies, 25 rose, 85 declined and 242 remained unchanged.
Zeal Bangla was the top gainer, rising 9.52 per cent, followed by BD Welding, Premier Cement, AB Bank and Tallu Spinning.
Popular Life Insurance was the worst loser, declining 8 per cent, followed by ACI Formulations, Aziz Pipes, Prime Insurance and Peoples Insurance.
The stock market will be shut throughout next week as the government has announced closure of all public and private offices as part of its efforts to contain the spread of the coronavirus.
The Dhaka Stock Exchange (DSE) took the decision at a board meeting at its Nikunja office in the capital. The Chattogram Stock Exchange (CSE) also took a similar decision.
On Monday, the government announced general holiday from March 29 to April 4 to slow the spread of the highly contagious virus. "Following the order, we also announced to shut the market next week," the DSE said in a press release.
During the week, the DSE office will be closed, it added.
As the banking hours will be curtailed to the bare minimum, it is not possible to keep the market open effectively, said a DSE director.
All public and private banks would remain open from 10:00am to 1:30pm on regular working days from March 29 to April 4, according to the central bank.
"The unprecedented epidemic should be controlled first because investors are also frightened," the director said, adding that many other activities of the stock market have already been interrupted by the COVID-19.
A number of companies informed stock investors yesterday through the DSE website that their upcoming annual general meetings have been postponed. The companies are: IPDC, Reliance Insurance, Nitol Insurance, Takaful Insurance, Delta Brac Housing and Green Delta Insurance.
The move from the bourses came as stocks on the DSE dropped 8.18 points, or 0.20 per cent, to close the day at 3,976.52.
Turnover, another important indicator of the market, fell 45 per cent to Tk 139.54 crore.
Of the 352 listed companies, 25 rose, 85 declined and 242 remained unchanged.
Zeal Bangla was the top gainer, rising 9.52 per cent, followed by BD Welding, Premier Cement, AB Bank and Tallu Spinning.
Popular Life Insurance was the worst loser, declining 8 per cent, followed by ACI Formulations, Aziz Pipes, Prime Insurance and Peoples Insurance.
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