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Bourses cut one-hour trading due to virus scare

MNA Business Desk: Following the free-fall of stocks prices, Dhaka Stock Exchange and the Chittagong Stock Exchange have decided to cut by one hour trading time effective from Thursday.

The decision was taken on Wednesday at meeting on the board o0f directors of the DSE. The CSE also will also follow the DSE decision, officials said.

Trading at the bourses will begin at 10:30am and continue until 1:30pm instead of 2:30pm. The new schedule will be continued until further notice, DSE said in a statement on Wednesday.

Normally, the capital market sees a four-hour trading from 10:30am to 2:30pm.

“The exchange authority has reduced trading time along with the government’s decision of shutting the schools and colleges and squeezing meetings and public gatherings following the horrifying situation created across the globe due to outbreak of coronavirus,” DSE said in a statement.

The prime bourse also encouraged investors to conduct share transactions cautiously through mobile apps and online trading amid the ongoing situation.

The DSE core index lost 683 points, wiping out market capitalisation of Tk 442 billion within seven trading days since the Bangladesh confirmed first three cases of coronavirus outbreak on March 8.

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