DGEN sinks below 5000 points

The loss of 168.69 points triggers protests from small, individual investors

Published : 9 May 2012, 02:47 AM
Updated : 9 May 2012, 02:47 AM
Dhaka, May 9 (bdnews24.com) – The Dhaka Stock Exchange's benchmark index lost 168.69 points to slump below 5000-point mark on the week's third business day.
The DGEN closed at 4901.61 points or 3.33 percent down, plummeting throughout Wednesday's trading.
Shares and mutual funds worth around Tk 3.84 billion changed hands with prices of 13 issues advancing, 245 declining and eight remaining at their opening prices.
Three hours into trading, the key index had shed 131.05 points, triggering off protests by retail investors.
The DGEN reached 4939.24 points which was 2.58 percent down at 2:03pm.
The Bangladesh Capital Market Investors Unity members started protesting against the plummeting share prices in front of the DSE around 1:45pm which lasted for around 45 minutes. They also protested against a writ petition filed seeking a stay order on a SEC circular.
The capital market regulator through the circular had fixed the least number of shares the directors of the companies listed on the capital market must hold.
On Tuesday, the benchmark index lost 98.62 points with a turnover of around Tk 3.78 billion. Around eight points were added to the index on Monday.
The DSE had lost around two points last week and the daily average turnover was around Tk 4.53 billion which was around Tk 3.08 billion less than the week before.