The benchmark index of the Dhaka Stock Exchange (DSE) went down last week for a third straight week as investors confidence eroded following fresh petitions challenging securities regulator’s directive on minimum shares holding.

Stock market analysts opined that the market witnessed downward move last week as investors’ confidence deteriorated due to fresh legal challenges of the minimum share holding by company directors in the High Court (HC).

During the week, the DGEN General Index of the premier bourse plunged 194 points or 3.88 per cent to close at 4,798 points.

The broader All Shares Price Index (DSI) also declined 158 points or 3.76 per cent to close at 4,055 points while the DSE-20 Index comprising blue-chip shares lost 117 points or 3.07 per cent to 3,680.

Meanwhile, a group of small stock investors staged demonstration in front of the DSE Building and blasted the SEC as they alleged that the market regulator had not taken its next course of action to compel directors to buy minimum shares as per its previous directive. They also blamed the SEC for the downtrend and cloudy situation in the market.

The week’s total turnover value came down to Tk 14.64 billion last week compared to Tk 17.87 billion in the previous week.

The average daily turnover value also went down and stood at Tk 2.92 billion which was 18.04 per cent lower compared to previous week’s Tk 3.57 billion.

The Daily Sun/ Bangladesh/ 27-May-2012