Dhaka, Bangladesh (BBN) – Dhaka stocks went to negative territory again on Wednesday, a day after sharp rise amid wide- spread rumor during trading hours that sponsor directors is going to court to writ against SEC’ recent directive.
However, turnover value increased substantially and stood at BDT 4.21 billion against BDT 3.27 billion in the previous session.
On November 22 last, the Securities and Exchange Commission (SEC) issued a notification and asked the sponsors/directors of all listed companies to acquire minimum 30 per cent stake of their respective companies and minimum 2.0 percent for individual sponsor/director and allowed six months time.
Meanwhile, the market opened with a positive mood, gaining more than 110 points within first hour. After that it started to decline amid rumor and finally ended 94 points lower.
The benchmark General Index of Dhaka Stock Exchange (DGEN) slipped 94.33 points or 1.86 per cent to close at 4,968.78 and DGEN came down bellow the 5,000 mark again.
Out of 263 issues traded, only 35 advanced, 218 declined while 10 remained unchanged.
Jamuna Oil topped the day’s turnover chart with shares worth BDT 251.52 million changing hands.
Rahim Textile was the top gainer posting 9.78 percent rise while Sonali Ansh was the worst loser and lost 9.98 per cent.
BBN/SSR/AD-14Dec11-8:35 pm (BST)