DGEN skids below 4,500 points (Updated)

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Thursday, 26 January 2012

Author / Source : Independent Online/bdnews24.com

DHAKA: The Dhaka Stock Exchange general index on Thursday skidded below the 4,500 points-mark, the lowest since the market instability started in Dec 2010.

Trading in the week's last day at the premier bourse closed with the DGEN slipped to 4,486.98 points, a loss of 77.9 points or 1.71 percent from the opening. Shares worth around Tk 1.90 billion changed hands with prices of 203 issues falling, 44 gaining and nine remaining unchanged.

Following continuous plummeting in the first three days of the week – a 236-point loss on Sunday, 71-point loss on Monday and 132-point loss on Tuesday – the general index gained 58 points on Wednesday.

Even though the market stabilised a bit in December after the market regulators the Securities and Exchange Commission (SEC) declared their incentive packages, the stocks started taking a battering in the first week of the New Year.

Last week, the turnover and the index both fell. In the four working days (Jan 15-19) last week, the general index shed 167 points or 28 percent. The average daily turnover was Tk 3 billion, 34 percent less than the previous week.