 | Jittery investors take to streets as stock erosion continues
16 March, 2010
Dhaka stocks Monday shed 37 points after recovering from the steepest fall ever-over 152 points-in the first 35 minutes of the day's trading. The biggest single-day fall was 137 points recorded in 2001.
The market witnessed ups and downs throughout the day amidst street protests by a small group of 'investors' and emergency meetings between top leaders of the Dhaka Stock Exchange and high officials of the Securities and Exchange Commission (SEC).
The market recovered halfway through the trading session on the back of strong speculation that the securities regulator would take some ' positive' decisions. However, there was, virtually, no improvement in daily turnover situation with the value of transactions remaining around Tk 6.0 billion.
At the end of the day, the DSE general index, DGEN, closed at 5338.13 with a fall of 36.93 points or 0.68 per cent.
Prices of nearly 99 per cent of the 239 traded issues declined during the initial 35 minutes of trading. However, finally, 59 stocks finished positive, 177 ended negative and three remained unchanged.
The steepest decline caught the investors of both DSE and Chittagong Stock Exchange (CSE) by surprise. Before their watchful eyes, most issues declined in rapid pace.
Some agitated investors came out of the DSE building and took to the street, blocking traffic movement for a while. They chanted slogans against the regulator and demanded increase in ratios of margin loan provided by merchant bankers and brokers.
Release link:http://www.thefinancialexpress-bd.com/more.php?news_id=95161
|
|
|
