Stocks trading resumes Sunday

BSEC gives clearance

Staff Correspondent | Published: 22:47, May 28,2020


Trading on the country’s stock market will resume on May 31 following the Bangladesh Securities and Exchange Commission’s consent and the government’s decision not to extend general holidays further.

The Dhaka Stock Exchange made the decision on trading resumption on Thursday as the market regulator on the day approved a no-objection letter regarding the issue.

As per the decision, trading will start at 10:30am and continue till 1:30pm. Usually, trading on the country’s stock exchanges begins at 10:30am and ends at 2:30pm.

The BSEC on Thursday at a commission meeting presided over by its new chairman Shibli Rubayat Ul Islam decided to issue the no-objection letter, a BSEC press release said.

Share trading on the country’s stock exchanges — Dhaka Stock Exchange and Chittagong Stock Exchange — has remained suspended since the start of the general holidays.

The government announced general holidays from March 29 and extended it in phases till May 30 to combat the spread of the coronavirus outbreak in the country.

The government on Thursday decided not to extend general holidays further.

The BSEC in the press release also said that the stock exchanges could reopen trading upon ensuring compliance with the health and family welfare ministry’s directives over health safety measures and hygiene.

Following the consent, the DSE decided to resume trading and settlement activities and all other official activities on Sunday by ensuring health and hygiene measures, social distancing and all other protective measures.

The DSE also asked all the brokerage houses to follow the health guidance of the health and family welfare ministry.

DSE managing director Kazi Sanaul Hoq told New Age that trading would resume Sunday.

Asked about the ‘floor price’ restriction, he said that the restriction would be continued, and after observing the market situation, the commission would decide on the issue.

Earlier, the stock exchange had sought exemptions from complying with a number of rules for resuming trading during general holidays.

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