Investors will not be able to withdraw money before closing

Published:Tuesday, 13 Apr 2021 11:04

Investors will not be able to withdraw money before closing

News Desk: Banks are being closed under the comprehensive lockdown program given to prevent corona infection. The stock market will also be closed for a week from tomorrow due to the closure of banks. Today is the last working day before closing. As it is the last working day, investors are not getting the opportunity to withdraw money by selling shares from the stock market before closing. Because, if you sell the shares today, that transaction will not be settled before the holiday.

As a rule, it takes a minimum of two days to complete the trading of shares in the stock market. It takes time to settle a relatively good fundamental transaction. This time is three days for the settlement of transactions of weak or bad quality ‘Z’ class companies.

As such, if someone sells or buys shares today, the transaction of those shares will not be settled before the next day. Only after the transaction is settled can an investor apply to withdraw money from the sale of shares. In other words, due to Corona, there is no opportunity to withdraw money from the stock market before the end of the holiday announced by the government.

Even if the transaction is closed again, the wheel of interest will turn. Those who have bought shares with margin loans will also not get the opportunity to adjust the loan. Because if a debt-ridden investor sells all the shares and takes the initiative to repay the loan today, he will not be able to do so. Because the loan will not be adjusted until the transaction is settled.

Market insiders say, “Today is a day for investors in the stock market to keep a lot of rules before closing. Because, by buying and selling shares on this day, investors will not be able to raise money, nor will they be able to adjust loans. ”

Meanwhile, Bangladesh Bank also announced the closure of the bank from April 14 to 21 in the afternoon after the issuance of government directives on Monday. Immediately after the announcement, the Bangladesh Securities and Exchange Commission (BSEC), the regulator of the capital market, announced the closure of the stock market. Mohammad Rezaul Karim, executive director and spokesperson of the company, said yesterday, “Whenever the bank opens, trading in the stock market will resume. ”

With this, the trading of the stock market is going to be stopped in the second phase. Earlier, in the first phase, trading in the stock market was closed for 66 consecutive days from March 26 last year. The closure also changed the leadership of the regulatory body BSEC. The new leadership came and started trading in the stock market from May 31. Even though the transaction was closed at that time, the indebted investors had to calculate the loan interest without taking part in the transaction.