Historic Fall in Dhaka Stock Exchange

The shares in the Dhaka Stock Exchange (DSE) on Sunday witnessed a sharp fall of 600 points, the highest ever in the history of the country’s premier bourse.
The DSE General Index opened at 7735.21 points as the trading began on the first trading day of the week, but fell to 7135.02 points at the closing, much to the despair of the investors. The DGEN shed 7.75 per cent on the day.
Of the total issues traded, prices of 241 declined and only four gained while no issue remained unchanged. A total of 210,905 shares were traded on the day.
The four lucky gainers of the day were Rahim Textile, Monno Jute Stafflers, GrameenPhone and Apex Spinning.
The most popular adage ‘Morning shows the day’ does not always come true, especially at the volatile DSE.
The day’s trading began with high hopes as the DGEN index witnessed an upward trend and reached 7800 points at about 11:05am. But in a nosedive it soon dropped to 7540 before taking another upward trend. The index showed 7650 points at 11:45 am.
The broader DSE All Shares Price Index (DSI) lost 494.40 points or 7.68 percent to close at 5938.02 on Sunday against Thursday’s 6432.42 while the DSE 20 blue chip index shed 343.98 points or 7.09 percent to close at 4504.54 against 4848.53 on the last trading day (Thursday).
Additional police and members of the Rapid Action Battalion (RAB) were deployed in front of the DSE building to avert any trouble as the share prices started to fall rapidly.
Earlier, in the day, the Securities & Exchange Commission (SEC) offered two market decisions in a bid to give a breath to the volatile market but these have no positive impact on the slump.
The SEC withdrew the single-client credit exposure of Tk 10 crore, and reduced the time limit to 15 days from the previous 30 days for new BO account holders to be eligible for credit.
The decisions came from a meeting with SEC chairman Ziaul Haque Khondker in the chair. Officials and merchant bankers of Dhaka and Chittagong stock exchanges were also present.

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