Stocks rebound as investors return to trading floors
Trading in the DSE and CSE bounced back on Tuesday after a sharp fall in price index over the past seven consecutive business sessions that triggered violent protest by small investors in front of DSE building on the previous day in the city's Motijheel business district.
Agitated traders demanded resignation of the chairman of Bangladesh Securities and Exchange Commission (BSEC) Khairul Hossain on Monday taking to the streets blaming him for failing to protect interest of the investors.
Following traders' violent protest bourse returned in the positive trading on Tuesday but investors were not convinced about a lasting improvement in the situation and demanded removal of the BSEC chairman and resignation of the entire commission.
Small investors again took to the street on Tuesday calling for total overhauling of the regulatory body which they blame for working to protect big people manipulating the market.
The protesting investors under Capital Market Investors United Council (CMIUC) formed a human chain in the afternoon yesterday in front of the DSE building raising slogans against BSEC chairman and his replacement.
The CMIUC president Mizanur Rashid Chowdhury said the BSEC chairman should confess his failure and should resign. Otherwise the capital market will not improve. People have no trust in the chairman and so he can't restore confidence of people in the market.
He said this commission has fully failed to control the market demanding appointment of a new chairman. Another investor in his speech warned of fresh agitation if the concerned authorities fail to stabilize the market.
BSS adds: Rising major sectors traded yesterday in the bourse were insurance and financial institutions. A total of 167 securities of large-cap group moved up due to higher activities.
The broader DSEX of DSE closed the day with 32.96 points up at 5,124.45. The blue-chip DS30 and the Shariah DSES also followed the same trend with 10.96 points up at 1,829.49 and with 8.92 points up at 1,175.30 respectively.
At the DSE, out of the day's 352 securities, prices of 222 securities closed higher against 194 losing issues while 94 remained unchanged.
The volume of shares fell to 9.63 crore from Monday's 10.95 crore shares and the daily turnover in value at DSE decreased to Taka 271.76 crore from Monday's Taka 306.07 crore.
The top five gainers were SEMLFBLGF, VAMLBDMF1, VAMLRBBF, ICBSONALI1 and Global Insurance. The top five losers were First Finance, Fareast Insurance, Federal Insurance, Zeal Bangla and Premier Cement.
SEAPEARL topped the turnover list followed by Fortune, BRAC Bank, BSC and Sino Bangla.
In the port city, CSE also closed higher with its major CASPI 82.84 points up at 15,702.41. A total of 268 issues were traded at the CSE. Of those, 152 closed higher and 89 closed lower while 27 remained unchanged.
A total of 68.92 lakh shares and mutual fund issues changed hands for Taka 16.44 crore.