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Stocks down despite circuit breaker

FE report | March 23, 2020 00:00:00

Dhaka stocks went down on Sunday, a day after the securities regulator imposed circuit breaker to boost the ailing capital market.

DSEX, the key index of the Dhaka Stock Exchange, shed 14.79 points or 0.37 per cent to settle at 3,960, after jumping 371 points in the previous session.

Trading on bourses took place from 10:30am to 1:30pm as the bourses curtailed trading time by one hour due to anxiety for coronavirus pandemic.

The presence of investors on the trading floor was thin as the bourses discourage their clients for rushing in the brokerage houses and encourage more for trading through mobile apps and other internet-based devices.

Bangladesh Securities and Exchange Commission imposed circuit breaker on Thursday to curb the free-fall of stock prices.

Under the new circuit breaker, price of no security will be allowed to hit below its average closing price of five preceding days.

However, the CSE edged higher with its All Shares Price Index (CASPI)-advancing 53 points to close at 11,187.

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