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Share trading at the Dhaka Stock Exchange (DSE), the country’s premier bourse, remained halted for about three hours due to a technical glitch with trading server on Monday.
Just one-and-a-half-hour after the trading started a server error occurred, disrupting the trading from 10.58am to 2.09pm.
The DSE was back to the trading at 2.10pm and the trading session formally ended at 2.30pm.
Meanwhile, the securities regulator Bangladesh Securities and Exchange Commission (BSEC) formed a five-member probe committee the same day to look into the issue and the trading operations of the Dhaka bourse and its IT efficiency, said a media statement issued by the BSEC.
The probe body, led by BSEC Director, Mohammad Abul Hasan, was asked to submit the report in the next 30 working days.
Due to the technical glitch, the DSE trading session was cut from 260 minutes to 108 minutes.
Dhaka bourse officials said the technical problem was detected after the brokerage firms were failing to implement the buy or sales orders from their ends.
Later, the technical teams of DSE and the NASDAQ, the supplier of the DSE server, jointly resolved the problem and the trading again resumed at 2.10pm and the session was extended till 2.30pm, M Shaifur Rahman Mazumdar, acting managing director of the DSE told The Business Post.
The trading at the port city bourse, Chittagong Stock Exchange (CSE), however, continued as usual.
Amidst the technical interruption, Dhaka stocks extended the bearish momentum for the second trading session on Monday.
The DSEX, the broad index of the DSE, plummeted 36.4 points or 0.51 per cent to settle at 6,311 against 6,344 points in the previous trading session.
Among other indices, the DSES, the Shariah-based index, fell 12.34 points or 0.88 per cent to 1,386, and the DS30, the blue-chip index bleed 19.57 points or 0.86 per cent to close at 2,242.
The DSE turnover stood at only Tk 228 crore on the day.
The market was witnessing consecutive corrections resulting from the dominant selling pressures across the bourse as investors became wary about minimising their losses from the ailing market, said EBL Securities, a stockbroker, in its daily market review.
Investors also reacted negatively to the corporate declarations as the recently disclosed earnings declarations could not meet their expectations, while a gloomy forecast for the upcoming ones induced them to remain watchful, it commented.
On the sectoral front, pharma and chemicals topped the turnover chart with a contribution of 24.4 per cent to the total turnover, followed by miscellaneous (20.3 per cent), and engineering (12.7 per cent) sectors.
Out of the 388 issues traded, 18 advanced, 82 declined and 288 remained unchanged on the trading floor of the DSE.
The port city bourse, CSE, also closed lower on the day with its two major indices — the CSCX and the CASPI — declining by 51.9 points and 86.1 points respectively.
