Stock Slump
6 protesters held for vandalism
Police yesterday detained at least six people in front of Dhaka bourse and adjacent areas on charge of street vandalism during a demonstration by the retail investors protesting the continuous slump in stock prices.
However, another two people were released immediately after the police detained them.
“We have detained them for hampering public life,” Moniruzzaman, additional deputy commissioner of Dhaka Metropolitan Police (Motijheel zone), told journalists.
This is the second time in a row and fourth time in a month the retail investors took to the Motijheel streets protesting the steep fall in share prices. In last four trading days, the stockmarket slumped by 570 points.
Although a long-term correction in stock prices was expected anytime in the last one year, the recent bearish trend as seen by experts is due mainly to liquidity crisis in the market.
Yesterday, the aggrieved investors started taking positions on the streets after the market closed 213 points lower at 3:00pm, the regular closing time.
The protesters blocked roads from Shapla Chattar to Ittefaq crossing, staged a rally and chanted slogans, vandalised several vehicles and threw brickbats on police.
The law enforcers chased the demonstrators to free the streets. Chase and counter-chase between the police and investors continued for some time.
Police charged truncheons on the agitators while they were trying to enter the Modhumita building, just opposite to the Dhaka Stock Exchange (DSE) main building, and lobbed at least two tear gas canisters to disperse the demonstrators.
After the police actions, vehicular movement became normal at about 4:15pm.
Tofazzal Hossain, officer-in-charge of Motijheel Police Station, said police will take decision about the detainees after quizzing them.
From inside the prison van the detainees said they had no alternative but to demonstrate as they were continuously losing money due to the bearish trend in the market.
They however, denied their involvement in street vandalism, and sought government intervention to stabilise the stock market.
