Dhaka stocks fall
FE Report | Thursday, 12 June 2008
Dhaka stocks plunged Wednesday due to panic selling spree caused by fears that the market regulator might impose some sort of restrictions on trading.
The benchmark DSE General Index (DGEN) sank to its highest single day fall this year hitting 93 points to finish at 3025.69 against previous highest single day fall of 88.86 points on June 3 due to price adjustment of AB bank scrips.
The recent series of meetings of Securities and Exchange Commission (SEC) with the market operators and merchant banks to pacify the overheated market created fears among the investors that was responsible for pulling the market down, according to the stock dealers.
The Dhaka Stock Exchange (DSE) opened with downbeat mood from the very outset and the trend continued towards close of the trade.
Two other market barometers - All Shares Price Index (DSI) and DSE-20 Index (DS20), comprising blue chips, -- also dipped 75.80 points and 48.50 points to close at 2567.02 and 2499.73 respectively.
Stock prices of most issues declined on the day as out of the 237 issues traded, only 18 gained, 215 declined and four remained unchanged.
The benchmark DSE General Index (DGEN) sank to its highest single day fall this year hitting 93 points to finish at 3025.69 against previous highest single day fall of 88.86 points on June 3 due to price adjustment of AB bank scrips.
The recent series of meetings of Securities and Exchange Commission (SEC) with the market operators and merchant banks to pacify the overheated market created fears among the investors that was responsible for pulling the market down, according to the stock dealers.
The Dhaka Stock Exchange (DSE) opened with downbeat mood from the very outset and the trend continued towards close of the trade.
Two other market barometers - All Shares Price Index (DSI) and DSE-20 Index (DS20), comprising blue chips, -- also dipped 75.80 points and 48.50 points to close at 2567.02 and 2499.73 respectively.
Stock prices of most issues declined on the day as out of the 237 issues traded, only 18 gained, 215 declined and four remained unchanged.