Dhaka, Bangladesh (BBN) - The Securities and Exchange Commission (SEC) suspended trading of both the bourses again on Tuesday due to free fall of share prices followed by investors' street protest.
The regulator instructed the two bourses to halt trading after the general index of Dhaka Stock Exchange (DSE) plunged by 243 points or 3.29 per cent and Selective Categories Index of Chittagong Stock Exchange (CSE) by 298 points at about 1:40pm.
However, normal share trading will resume at 11:00am on Wednesday and continue as usual, the authorities confirmed.
With 80 minutes remaining in Tuesday’s trading session, the benchmark DSE General Index (DGEN) was down by 3.29 percent or 243 points when trade was suspended. Earlier on Monday of last week, SEC suspended trading within the opening fifty minutes of trade when DGEN was down by 9.0 percent or 660 points.
The benchmark index was down by 3.21 percent or 237 points at close of Tuesday’s session and 7.16 percent or 550 points down in the last four sessions.
Hundreds of angry investors came out from the brokerage houses and gathered in front of the DSE main building at about 12:45pm, after the DGEN lost 203 points. They staged demonstration, protesting the continuous fall of share prices, and chanted slogans against the market regulators and the DSE top bosses.
Out of the 244 issues traded, only 10 advanced and 234 declined. Turnover stood at only BDT 6.10 billion during the two hours and 40 minutes trading.
Earlier on January 10, angry investors took to the streets across the country after the SEC suspended trading following the record fall of share prices.
They staged demonstrations, engaged in sporadic clashes with policemen, vandalized vehicles and blocked traffic movement for about four hours at Motijheel and adjoining areas in the city.
BBN/SSR/AD-19Jan11-1:44 am (BST)