Investors protest non-stop stocks fall, seek PM’s intervention
Dhaka, Oct 11 (UNB) - Stocks at the country’s premier bourse, Dhaka Stock Exchange (DSE), dipped further on Tuesday, registering the second-biggest fall since May 25 this year, sparking street protests by investors.
The DSE general index, DGEN came down to 5293.31096 points on Tuesday showing 4.08 percent or 225.53 points decline at the end of the day’s trading. The DSE key index came down to 5292.53 points on May 25.
The frustrated investors also stormed into different web pages and voiced their angers. “This is not a share market. All share prices are going down and down...we want justice. Please do something for us...don't kill us like this way...we want our money back,” investor Arifur Rahman Chowdhury wrote in a blog.
Another investor Akhtar wrote, “Save us, otherwise we’ll take our own lives.” Monirul Haque writes, “For God’s sake please stop this …right now.”
However, the turnover was remarkable compared to previous sessions as the investors went for panic sale fearing further fall in the following days.
The turnover stood at Tk 335 crore or Tk 3359.116 million, the highest in the last seven trading days. It was Tk 255 crore or Tk 2558.055 million on Monday.
Trading at the DSE started with a downtrend and the key index came down to 5374.30 points showing 2.61 percent or 144.54 points decline at 12:15 pm. The General Index shed over 229 points at 2pm. The DSE key index lost 14.54 points or 0.26 percent on Monday while it lost 194.40 points or 3.39 percent on Sunday.
Of the issues traded till 12:15 pm, only 4 advanced, 229 declined and 6 remained unchanged. Some 259 issues were finally traded. Of the traded issues, only 8 advanced, 249 declined and 2 remained unchanged.
Following the continuous fall, a group of investors under the banner of Bangladesh Share Investors Association formed a human chain in front of DSE building.
They sought Prime Minister’s intervention in saving the capital market from hands of a vested quarter.
Another group of investors under the banner of Capital market Investors Oikya Parishad staged a token-hunger strike at 12:40pm. The frustrated and angry investors chanted slogans against the market regulators and concerned officials, including the Finance Minister and the Bangladesh Bank governor.
They blocked the streets and chanted slogans demanding resignation of the finance minister and the central bank governor. The agitation halted traffic in front of the DSE in commercial hub Motijheel for hours together since 1.15pm.
They will also stage demonstrations in front of the DSE during the next two days in protest against the market fall.
Talking to UNB, DSE senior vice-president Ahasanul Islam said, ”The flow of buying and selling was good today, but there’s no fresh investment in the market. It’ll be very difficult to see stability in the market unless fresh investment is ensured.”
He said the market cannot be sustainable by only changing the hands of current investment. “Fresh investment is very important now.”
Besides, the share index at Chittagong Stock Exchange (CSE) also witnessed a similar trend on Tuesday. The CSE Selective Categories Index, CSCX shed 115.0478 points or 1.1571 percent to stand at 9827.4894 points at 12:15 pm. Finally, the index shed 387.3179 points or 3.8956 percent to close at 9555.2193. Of the 187 traded issues, only 5 gained, 180 suffered losses and 2 remained unchanged.
The DSE general index, DGEN came down to 5293.31096 points on Tuesday showing 4.08 percent or 225.53 points decline at the end of the day’s trading. The DSE key index came down to 5292.53 points on May 25.
The frustrated investors also stormed into different web pages and voiced their angers. “This is not a share market. All share prices are going down and down...we want justice. Please do something for us...don't kill us like this way...we want our money back,” investor Arifur Rahman Chowdhury wrote in a blog.
Another investor Akhtar wrote, “Save us, otherwise we’ll take our own lives.” Monirul Haque writes, “For God’s sake please stop this …right now.”
However, the turnover was remarkable compared to previous sessions as the investors went for panic sale fearing further fall in the following days.
The turnover stood at Tk 335 crore or Tk 3359.116 million, the highest in the last seven trading days. It was Tk 255 crore or Tk 2558.055 million on Monday.
Trading at the DSE started with a downtrend and the key index came down to 5374.30 points showing 2.61 percent or 144.54 points decline at 12:15 pm. The General Index shed over 229 points at 2pm. The DSE key index lost 14.54 points or 0.26 percent on Monday while it lost 194.40 points or 3.39 percent on Sunday.
Of the issues traded till 12:15 pm, only 4 advanced, 229 declined and 6 remained unchanged. Some 259 issues were finally traded. Of the traded issues, only 8 advanced, 249 declined and 2 remained unchanged.
Following the continuous fall, a group of investors under the banner of Bangladesh Share Investors Association formed a human chain in front of DSE building.
They sought Prime Minister’s intervention in saving the capital market from hands of a vested quarter.
Another group of investors under the banner of Capital market Investors Oikya Parishad staged a token-hunger strike at 12:40pm. The frustrated and angry investors chanted slogans against the market regulators and concerned officials, including the Finance Minister and the Bangladesh Bank governor.
They blocked the streets and chanted slogans demanding resignation of the finance minister and the central bank governor. The agitation halted traffic in front of the DSE in commercial hub Motijheel for hours together since 1.15pm.
They will also stage demonstrations in front of the DSE during the next two days in protest against the market fall.
Talking to UNB, DSE senior vice-president Ahasanul Islam said, ”The flow of buying and selling was good today, but there’s no fresh investment in the market. It’ll be very difficult to see stability in the market unless fresh investment is ensured.”
He said the market cannot be sustainable by only changing the hands of current investment. “Fresh investment is very important now.”
Besides, the share index at Chittagong Stock Exchange (CSE) also witnessed a similar trend on Tuesday. The CSE Selective Categories Index, CSCX shed 115.0478 points or 1.1571 percent to stand at 9827.4894 points at 12:15 pm. Finally, the index shed 387.3179 points or 3.8956 percent to close at 9555.2193. Of the 187 traded issues, only 5 gained, 180 suffered losses and 2 remained unchanged.
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