DSE investors take to street again

FE Report Aggrieved investors again took to the street at Motijheel in the city at about 12.30 pm Tuesday, as the Dhaka stocks experienced a massive fall. The DSE General Index (DGEN) plunged 225.53 points or 4.08 per cent on the day to close at 5,293.31. The frustrated shareholders set fire to wood and papers in front of the DSE Building and positioned themselves on the road. As a result, vehicular movement from Shapla Chattar to Ittefaq intersection remained suspended from 1.30pm to 3pm. The investors, under the banner of 'Sharebazar Investors Oikyo Parishad', staged demonstration and formed human chain in front of the DSE. They also chanted slogans demanding resignation of the finance minister, the central bank governor and the DSE president. They also declared to stage demonstrations in front of the DSE today and tomorrow (Wednesday and Thursday) in protest against the steep and continuous fall of share prices. The leaders of the organisation also threatened to launch countrywide demonstration from next week. The investors alleged that some big market players and gamblers might have a role behind the present non-stop market fall. They urged the government to take effective steps immediately to bring back normalcy in the market. They also sought Prime Minister's direct intervention to save the capital market from the claws of some vested quarters. Investors, protesting the continuous fall, also demonstrated in front of the DSE Sunday and Monday. Market insiders said panicked investors are selling off their shares, as consecutive measures taken by the market regulator and stakeholders frequently failed to stabilise the market. A stock broker said the traders were expecting some positive outcome from the Monday's meeting between the SEC and the stakeholders. They were disappointed, as nothing tangible came out of it apart from the consensus that a coordinated effort is required to stabilise the market. However, turnover value increased to Tk 3.35 billion Tuesday against Tk 2.55 billion in the previous session. Out of the 259 issues traded, eight advanced, 249 declined and two remained unchanged.