Dhaka bourse halts trading for Daffodil Computers, Usmania Glass
According to the DSE, shares trading halt for Usmania Glass for second time as it had faced trading halt on 9 June, and resume on the next trading session.
The Dhaka Stock Exchange (DSE) has suspended trading in the shares of two listed companies— Daffodil Computers and Usmania Glass Sheet Factory—after detecting abnormal price and volume spikes.
In separate disclosures issued at 10:56am, the bourse said trading in both stocks would remain suspended for the rest of the trading session due to unusual increases in share prices and trading volumes.
According to the DSE, shares trading halt for Usmania Glass for second time as it had faced trading halt on 9 June, and resume on the next trading session.
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Daffodil Computers' share price jumped 16% to Tk170.6 between 28 June and 9 July. The stock later fell to Tk160.8 on Sunday before rebounding to Tk163.8 on Monday prior to the trading suspension.
Meanwhile, Usmania Glass Sheet Factory's shares price surged abnormally in recent trading sessions, the DSE data showed. Its share price climbed from Tk37.3 on 22 June to Tk70.2 on 9 July.
After the earlier trading suspension, the stock slipped to Tk67.5 on 12 July but surged again yesterday to Tk74.2 each, making significant surge in a single trading session.
Due to this price surge, the premier bourse halted the company's trading.
Previously, DSE halted share trading Meghna PET Industries, Zeal Bangla Sugar Mills due to abnormal share price jumps.
Bourse officials told TBS that such trading halts are part of the exchange's efforts to curb market manipulation and protect investors from unusual price movements.
