Wednesday, September 30

Stock markets to restart from May 31

The two stock markets in the country will resume exchange of shares and equities from Sunday, May 31 — more than two months following suspension on the operations due to Covid-19 outbreak.

The operations will, however, continue till 1:30pm on every working day instead of the usual closing time of 2:30pm.

The two stock markets — Dhaka Stock Exchange and Chittagong Stock Exchange — had last seen share transactions on March 25, before the government declared all offices and schools shut from March 26 in a bid to prevent the spread of coronavirus.

Following the resumption of the stock markets, transactions will take placed based on the floor price of the shares.

Bangladesh Securities and Exchange Commission, the stock market regulator, fixes the floor price of shares before transactions begin to make sure that the prices of shares cannot slump below the average price in the previous five working days.

This time, the floor price will be fixed based on the average price of shares on the five working days from March 19 and before.

Stock market analysts, however, opined that this artificial method of maintaining the price of shares will have negative impact on the market.

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