Dhaka, Bangladesh (BBN) – Bangladesh stocks suffered a big jolt on Wednesday due mainly to the capital market regulator's price curbing measures that were announced on Tuesday, market operators said.
The benchmark Dhaka Stock Exchange (DSE) General Index (DGEN) lost nearly two per cent or 128.35 points, the largest drop since July 25, to end at 6649.60, pulling down from previous day's new high of 6777.95.
The benchmark index nose-dived in the morning on panic sale, losing 130 points and then, it recovered almost half of lost points. But in the wee hour, The investors resorted to profit taking for fear of the impact of price curbing measures.
On Tuesday, the Securities and Exchange Commission (SEC) asked merchant bankers and brokerages to follow a "net asset value" (NAV) calculation for determining margin ratio at 1:1.
The SEC also asked them to implement the latest measures within September 30 this year.
The broader DSE All Shares Price Index (DSI) was down by 1.81 percent or 102.15 points to 5536.92. The DSE-20 blue chip index fell 1.49 percent or 58.28 points to 3852.91.
Chittagong stocks also marked a sharp fall with the CSE Selective Categories Index plummeting by 226.78 points, or 1.74 percent, to 12,741.15.
The Chittagong Stock Exchange traded more than 10.4 million shares and mutual fund units on a turnover of BDT 1.4766 billion.
Losers beat advancers 153 to 33, and five securities stayed unchanged on the country’s port city bourse.
BBN/SI/AD-26Aug10-1:13 am (BST)
