Bourses to remain closed till April 4

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Trading and official activities on the DSE will remain closed from March 26 to April 4

The trading and official activities of Dhaka and Chittagong Stock Exchanges will remain closed for 10 days starting tomorrow till April 4 in line with the government holiday decision to contain the spread of novel coronavirus.

On Tuesday, in separate statements bourses gave their decision on closing stock market. 

March 26 is a public holiday due to Independence Day, March 27, 28 and April 3, 4 are weekends, meaning market will be closed for extra five days.

The government on Monday announced closure of all public and private offices from March 26 to April 4, including weekly holiday.

The DSE key index lost 683 points, wiping out market capitalisation of Tk44,000 crore as of March 18 since the Bangladesh confirmed first three cases of coronavirus outbreak on March 8.

On March 19, Bangladesh Securities and Exchange Commission launched new circuit breaker to halt the free-fall that yielded positive outcome in the indexes.

On March 18, to tackle the free-fall of stocks prices, Dhaka and Chittagong Stock Exchange cut trading hour by one hour.

On Thursday, the stock market regulator, Bangladesh Securities and Exchange Commission (BSEC) introduced the new circuit breaker rule and set a floor price for every stock to keep the market buoyant. 

The new emergency circuit breaker rule was set so that the prices of securities do not go below their average prices from the previous five sessions – from March 19.