Stocks opened slightly lower on April 13 after witnessing a small rise in the previous day after news broke that the stock market will remain closed during the upcoming lockdown.
With banks to remain close during the period, trading and settlement activities on the bourses will remain shut during the 7-day strict lockdown, commencing from April 14.
The main index of the Dhaka Stock Exchange, DSEX, dropped more than 14 points or 0.27 per cent to stand at 5,173 within the first 30 minutes of trading.
Starting from April 14, market analysts have stated that some investors are selling shares as the market will remain close for a week during the government enforced 7-day strict lockdown.
The Bangladesh Securities and Exchange Commission (BSEC) has taken the decision to halt the nation’s stock market until the strict lockdown is still in force.
From April 14 to April 21, the nationwide lockdown will be in force in the country to curb the spread of the deadly coronavirus. BSEC officials have stated that the stock market will as soon as the bank’s services commences.
On the other hand, two other DSE indices also a negative trend till then with the DS30 index, which also contained blue chips, lost 3.71 points to reach 1,957 points and the Shariah Index (DSES) lost 1.68 points to stand 1,181 points.
Another important indicator of the market, turnover, stood at only Tk 982 million (Tk 98.2 crore) withing the first 30 minutes of trading for the day.
Of the issues traded till then, 140 declined, 67 advanced, and 57 remained unchanged on the DSE trading floor till then.
Central Insurance was the most traded stock till filing of this report with shares worth Tk 145 million (Tk 14.5 crore) changing hands, followed by GBB Power, Beximco, BD Finance and Continental Insurance.
The Chittagong Stock Exchange also fell marginally at opening with the CASPI losing 39 points to stand at 14,969.
Of the issues traded till then 35 declined, 15 gained, 9 remained unchanged with Tk 13 million (Tk 1.3 crore) in turnover.