Born from the series of shocks the witnesses all 'Market stabilizing measures' fall frantic rush for sell-off by investors under the grip of a feverish panic, flat on their
Faces reduced one after the other, Dhaka shares with a stunning fall on Sunday for the second time this year since January.
The country's premier stock market nose diving, a 21-month low panic margin in the midst of noisy demonstrations by investors on city streets in Motijheel crumble in the second crash of this year, the DGEN General benchmark Dhaka stock exchange.
The DGEN lost 4.36 per cent or 231.65 points to close the lowest level on which it stood at 5,095.21 points since January 21, the day on 5,077.12 points.
Investors on the day staged noisy demonstrations, locked in clashes with police officers, lit wood materials in protest in the relentless decline in share prices.
If the DGEN had lost 158 points of order 12: 25, investors from another broker crashed out of the buildings and crowded the road to bring the traffic between Shapla square and Ittefaq junction.
They chanted slogans against Finance Minister Abul Maal Abdul Muhith, Prime Minister of finance consultant Mashiur Rahman, Bangladesh Bank Governor Atiur Rahman, the Securities and Exchange Commission and DSE President Shakil Rizvi for their failure to the market to stabilise and infusion of investors with panic.
The demonstrators called Muhith for still not abandon, the finance portfolio after his attempts failed to stabilize the stock market and the economy as a whole and each shameless.
"After drawing flak from legislators and ordinary people, he is still on the Chair operation is to" evidence said investor.
Investors burned wood-based panels on its way to the DSE building at 14: 20. At this point numbers Lawman dispraise batons on investors to them. At that time, hut threw some investors out of the Madhumita building of the police. Later, the investors quietly further convinces the police and the demonstration.
Investors from the demo, now said the Government from the private sector, in particular the banks after the hole, promises came with several announcements of the movement for the injection of fresh funds into the market. But those who have proven to be empty talks.
Although the banks announced last week that the continuous fall of the market they invest in shares to their permitted limit of 10 percent of the liabilities, and relentlessly shrinking amount of sales, which said it proved the opposite.
"Rather than cheat us, she should say that the market would not stable", an investor said.
The DGEN we have fallen past six trading days to 467 points about that.
Salahuddin Ahmed Khan, Professor of finance at the University of Dhaka, said: "some of the market support measures were not stabilization have implemented and, which deepen the panic among investors."
'Positive announcements for the market are welcome, if they are implemented, otherwise the questionable,' he had.
"The problem more than the announcements by various authorities were not followed and by measures, which was more important support for the increase of the market," said DSE Senior Vice-President Ahsanul Islam new age,.
Bangladesh merchant bankers' Association President Mohhamad A Hafiz said, new age, 'the banks are in the terminal of the Eid-ul ETA Eridani and selling pressure from investors increases therefore also.'
The DSE-index hit all-time high of 3,249.57 crore earlier of 8,928.51 points with turnover of TK on 5 December, when the market is experiencing a boom.
But the market fell in January and February, after a series of crashes. On 28 February, the DSE index with sales stand TK 489.41 crore was 5,203.08 points.
A liquidity crisis hit the market at that time, as most of the banks and
other large investors was sunk for loose sales in December and juicy profits.
At the end of the stump January February began the market to back on the track in March, in which sales of the DSE on TK with provide the DGEN position 1,592.60 crore on 21 March at 6,528.20 rose.
The market started however, again in the mid-April to glide, as investors panic even more uncertainty about the implementation of the recommendations the Committee probe in January shares crash after.
The market started recovery, after the Government allowed investment of unknown money in shares on 29 June. Sales of Dhaka Bourse posted a record of the year of the TK 1,957.92 crore on 24 July, as the investors those, became active in particular institutional on the market.
On 24 July the DGEN climbed 6710.53 points with a turnover of TK 1957.92 crore, that highest of the year, after the passage in the Parliament of a provision to allow paying investment of unknown money on the stock exchange by 10 percent tax.
But the market then started a number of reasons, such as the poor corporate disclosure by a number of listed companies, Bangladesh Bank tight monetary policy and securities and Exchange Commission announcing legal action against some suspected market manipulators.
Source: newagebd.com/newspaper1
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