The bear run and investors’ demonstrations continued at the Dhaka Stock Exchange on Thursday, the last trading day of the week, belying the finance minister’s assurance that the capital market would be stabilised by the week.
Hundreds of investors took to the streets at Motijheel for the fifth day after the four-hour trading session when the DSE general index had lost 146 points, or 2.19 per cent, to close at 6,527.19 points.
The index swung like a pendulum throughout the day as confused and panicky investors continued with heavy selling but the market lacked buyers, resulting in the share prices taking the plunge.
Market players said institutional investors continued to stand on the sideline.
The prices of 233 of the total 259 scrip declined, with only 17 managing to advance on the day.
Earlier on Tuesday, in the face of heavy plunges in share prices and street protests by investors, finance minister AMA Muhith had said the market would be stabilised by this week, which however has proved to be an empty promise.
Hundreds of aggrieved general investors came out of different brokerages after the end of the day’s trading and blocked the road from Shapla Square to Ittefaq crossing, like the previous four days, in protest against the continued share price slide.
They set fire to woods and papers piled on the road and chanted slogan demanding immediate resignation of the Securities and Exchange Commission chairman and the DSE president.
They also demanded government action against the chairman of the parliamentary standing committee on finance ministry, AHM Mustafa Kamal.
The police had made the road from Shapla Square to Ittefaq crossroads off-limits for vehicles from 1:30pm fearing demonstration by investors as the general index had fallen to 6,580 points by that time.
The demonstrating investors vandalised a bus near the Madhumita movie theatre and threw brickbats at the adjacent buildings. At that point, the police went into action and dispersed the demonstrators.
DSE president Shakil Rizvi at a press meet in his office however claimed that the capital market was stable and would bounce back to a positive trend.
Experts reiterated the erosion of investors’ confidence due to contradictory statements made by government high-ups and liquidity shortage as the key reasons for the bearish trend.
Sohel Ahmed, one of the frustrated small investors, said, ‘The finance minister’s guarantee of stabilising the market by this week has also been proven wrong.’
‘I really don’t see any hope,’ he said in a tear-choked voice.
