DGEN down midway

After two hours of trading, prices of most of the shares decline. Updates

Published : 23 May 2012, 01:03 AM
Updated : 23 May 2012, 01:03 AM
Dhaka, May 23 (bdnews24.com) – The benchmark index of Dhaka Stock Exchange (DSE) plummeted in the first half of trading on Wednesday.
DSE general index, DGEN, dropped to 4760 points losing 145 points at 1pm.
Of the shares and mutual funds traded until then, prices of four advanced, 240 declined and four remained unchanged. The turnover was Tk 1360 million.
Both the key index and turnover fell on Tuesday, a day after the High Court rejected several petitions challenging legality of a SEC circular that said two percent stake in companies must be held by individual directors and 30 percent by the sponsor-directors altogether.
On Tuesday, DGEN closed at 4905.57 points, losing 117.38 points or 2.34 percent despite an initial surge during the week's third business day. The day's turnover was around Tk 2.16 billion less than Monday's.
The DSE key index gained around 50 points on Monday. It lost around 19 points at the week's opening.
The benchmark index shed around 84.84 points or 1.67 percent last week and the daily average turnover was around Tk 3.57 billion.