(১৩০৫) DSE turnover hits 26-month low

Friday, May 27, 2011 Unknown
The Dhaka Stock Exchange (DSE) has suffered the lowest turnover for 26 months.

Even though most shares gained, the turnover was recorded at Tk 2.96 billion on Thursday, sparking protest by retail investors.

The previous lowest turnover of Tk 2.95 billion came on Mar 29, 2009.

DSE general index gained 105.07 points or 1.98 percent to close at 5397.61 on Thursday.

Of the 255 traded issues, 241 advanced, 10 declined and four retained their earlier prices.

Chittagong Stock Exchange (CSE) Selective Categories Index closed at 9700.22, up 183.2 points or 1.92 percent than the start of the day's trade.

Out of the 180 traded issues, 158 gained, 19 slipped and three showed no change in prices.

The turnover stood at Tk 463 million.

Retail investors earlier in the day demonstrated in front of Dhaka Stock Exchange (DSE) after asking the securities regulator to suspend trading on the two stock exchanges following shares on the two bourses plunged for several consecutive days.

The investors under the banner of Capital Market Investors' Unity Council placed a 15-point charter of demands to the Securities and Exchange Commission on around 12 Thursday.

A 15-member delegation of the council, led by its president A K M Mizanur Rashid Chowdhury, placed the demands after calling on the SEC chairman M Khairul Hossain at his Motijheel office.

They asked for suspension of trading at the two bourses until formulation of a specific policy and passage of the next budget.

Protestors also chanting slogans asking the finance minister and the governor of Bangladesh Bank to stand down for their 'failure' to arrest the shares plummeting.

Their other demands are an increase in the margin loan ratio at 1:2 and formation of a committee to monitor the market.

Investors demonstrated demanding suspension of trading on Wednesday after Dhaka stock market slipped by 150 points and Chittagong stock market slipped by 250 points.

Protestors in Chittagong placed a memorandum before the SEC chairman on Wednesday.

bdnews24.com Chittagong office said several hundreds of retail investors held a half-an-hour human chain programme in front of Chittagong Stock Exchange at Agrabaad demanding their five-point demands, including suspension of trading.

The investors, under Investors Forum Chittagong, demanded quit of the finance minister and the governor of Bangladesh Bank for their failure to check fall of share markets.

The other demands included keeping sponsor share sale suspended and making merchant banks to reinvest profits made from the stock market.

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