Dhaka stocks skyrocket amid regulatory intervention

Source: Xinhua| 2020-03-19 22:25:50|Editor: huaxia

DHAKA, March 19 (Xinhua) -- Dhaka stocks on Thursday rebounded under a new emergency circuit breaker system launched at the Bangladeshi premier bourse.

The prime index of the Dhaka Stock Exchange DSEX surged by 371.01 points or 10.29 percent to settle at 3,974.96 points on Thursday.

The day's trading session lasted for only 30 minutes instead of regular four hours due to the setting of an emergency circuit breaker system, under which the price of no securities will be allowed to hit below its last 5 days' average.

Because of this, the market's other two indices also witnessed sharp rise on Thursday.

DS30, the blue chip index of the country's prime bourse, rose 122 points to reach at 1,325 points and DSE Shariah (Islamic law) Index (DSES) jumped 84 points to stand at 919 points.

Turnover stood at 491.22 million taka on the country's premier bourse from the previous day's turnover of 4.29 billion taka. (1 U.S. dollar equals to about 86 taka) .

Of the 342 issues traded, 141 advanced, 49 declined and 152 remained unchanged on the DSE trading floor.