Dhaka, Bangladesh (BBN)- Thousands of angry investors went on the rampage in Dhaka’s Motijheel area on Wednesday protesting the continuous fall in share prices, market operators said.
Within the 90 minutes of the day’s start of delayed trading, the benchmark index hit a lower limit by losing 237.77 points or 3.33 per cent, which prompted trading to grind to a halt automatically at the Dhaka Stock Exchange (DSE) caused visibly by the index circuit breaker.
The Wednesday’s trading started at 1:0 pm, two hours later than the usual time following the order of Securities and Exchange Commission (SEC).
The SEC earlier imposed index circuit breaker on DSE, meaning that trading at the bourse would come to an automatic halt if the DGEN gains or loses 225 points.
As the trading was halted with the new rule in force at about 2:30pm, the aggrieved investors came out onto the street from different brokerage houses and set off a street violence that jolted the city’s commercial area, leading to sporadic clashes.
The index closed 226 points (-3.18 percent) down on Tuesday. The index has retraced 10.11 percent since January 12 and 22.48 percent since the peak on December 5 last year. DSI and DSE-20 were down by 3.14 percent and 2.21 percent respectively.
Turnover stood at only BDT 5.37 billion. Out of 181 issues traded, only five advanced and 176 declined. All the sectors finished in the red on the day.
However, normal share trading resumes at 11am on Thursday and will continue on schedule, the authorities conformed.
BBN/SI/AD-20Jan11-1:47 am (BST)