. Investors, under the banner of Bangladesh Capital Market Investors Unity Council, gathered in front of the DSE at about 1:45pm and staged demonstration following the sharp fall.
The benchmark DGEN General Index of the Dhaka bourse finished the day at 4,902 points, after shedding 169 points or 3.32 per cent. During the demonstration they blamed the directors of listed companies who filed petitions against almost a six-month old Securities and Ex-change Commission (SEC) directive on minimum share holding by the directors, promoters and sponsors of listed firms, seeking stay order from the High Court.
“As the deadline to comply with SEC’s circular on minimum share holding by the directors/sponsors is forthcoming, investors appeared worried on the outcome of writ petitions filed by few director/sponsors of listed companies though the High Court (HC) has not given any stay order on SEC’s circular,” stated IDLC in its regular market analysis.
Fear besieged the market resulting into panic sales throughout the session, it added. During the session, the broader DSE All Shares Price Index, DSI, also lost 139 points or 3.26 per cent to close at 4,122 while the DSE-20 index of blue-chip shares plummeted 69 points or 1.78 per cent to 3,774.
Losers outnumbered gainers as out of 266 issues traded, 245 issues declined, only 13 issues gained and the rest eight remained unchanged.
Market insiders said market situation deteriorated following panic among the members of DSE due to the news of bank account freeze of former DSE President Shakil Rizvi.
The benchmark DGEN General Index of the Dhaka bourse finished the day at 4,902 points, after shedding 169 points or 3.32 per cent. During the demonstration they blamed the directors of listed companies who filed petitions against almost a six-month old Securities and Ex-change Commission (SEC) directive on minimum share holding by the directors, promoters and sponsors of listed firms, seeking stay order from the High Court.
“As the deadline to comply with SEC’s circular on minimum share holding by the directors/sponsors is forthcoming, investors appeared worried on the outcome of writ petitions filed by few director/sponsors of listed companies though the High Court (HC) has not given any stay order on SEC’s circular,” stated IDLC in its regular market analysis.
Fear besieged the market resulting into panic sales throughout the session, it added. During the session, the broader DSE All Shares Price Index, DSI, also lost 139 points or 3.26 per cent to close at 4,122 while the DSE-20 index of blue-chip shares plummeted 69 points or 1.78 per cent to 3,774.
Losers outnumbered gainers as out of 266 issues traded, 245 issues declined, only 13 issues gained and the rest eight remained unchanged.
Market insiders said market situation deteriorated following panic among the members of DSE due to the news of bank account freeze of former DSE President Shakil Rizvi.