Investors agitate at DSE as share prices plunge
Agitated portfolio investors in the Dhaka Stock Exchange took to the street on Tuesday following a free fall of share prices for another day as they lost patience fearing all out loss of their investment.
They agitated in front of the DSE building in the city's Motijheel demanding government intervention to save the bourse and save their capital. They are in fact holding protest on the spot over the past several days but the situation in the bourse is only worsening day by day.
Small investors chanted slogans against the chairman of the Bangladesh Securities Exchange
Commission (BSEC) demanding his resignation. "Why he is clinging to his chair when he has lost investors trust and blamed for sheltering market manipulators," said an investor in the crowd.
The protestors under Bangladesh Capital market Investors' Unity Council banner held a human chain in the street at old DSE's building premises under heavy police cordon.
They took to the street braving arrests in the wake of a case filed with Motijheel Police Station in August last year against the leaders of the unity council accusing them for holding strike and hampering business in the busy area.
A protester said, "We have nothing more to lose, we are already finished." One other said, "We waited for a long time, as promises were made by the Finance Minister and such others personalities. But the bourse is only diving and there is no more hope for recovery of our investment."
DSE lost more than 330 points from early January till Monday. On Tuesday the third trading session the DSE broad index fell further by 87.24 points to 4036.24 points and the transacted amount was Tk 2.63 billion. DSE market capitalization on the day also fell to Tk 3.13 trillion from Tk 3.3 trillion the day before.
Prices decreased for 293 companies, increased for 32 and remained unchanged for 30 among the transacted listed companies. The DS-30 index on Tuesday fell by 26.14 points to 1361.64 points and DSE Shariah index fell by 22.94 points to 907.03 points on the day.
In the meantime Bangladesh Bank Governor Fazle Kabir has assured a team of Dhaka Chambers of Commerce and Industries (DCCI) leaders that the central bank will provide all sorts of support to the investors.
The governor has however made only a vague promise while he knows well that the bourse is not properly functioning amidst a chaotic situation where market manipulators are dominating the scene. People believe it must be cleansed and trust must be restored to bring it back to normal working condition.
Otherwise, nothing can save it from falling to the bottom.