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Stocks reopened with sharp fall on Wednesday as investors went on panic sell-offs right from the start of the trading, fearing further fall amid ongoing curfew.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), slid more than 65 points or 1.19 per cent to 5,381 within the first 30 minutes of trading at 11:30am, when the report was filed.
Trading and official activities on the bourses resumed on Wednesday after three-break, in line with the reopening banks as broadband internet connection resorted on Tuesday night after five-day blackout.
However, stock trading time was cut down to 3 hours from 11:00am to 2:00pm instead of 10:00am to 2:20pm due to reduced banking hours, said a DSE official.
The stock market remained closed for three days to Tuesday as transactions on banks remained closed due to general public holidays.
The general holidays come amid unrest and subsequent curfew enforced by the government since Friday midnight as anti-quota protest and violence speared across the country, leaving more than 150 people dead.
The blue-chip DS30 index, a group of 30 prominent companies, also lost 26 points to 1920 and the DSES index, which represents Shariah-based companies, fell 13 points to 1,177 till then.
Turnover, another important indicator of the market, stood at only Tk 390 million till then.
Of the issues traded till then, 282 declined, 26 advanced, and 9 issues remained unchanged on the DSE trading floor till then.
Midland Bank was the most traded stock till then with shares worth Tk 16 million changing hands, followed by Beach Hatchery, Gemini Sea Food, Libra Infusion and Orion Parma.
The Chittagong Stock Exchange also saw a downturn with its All Shares Price Index (CASPI)—losing 42 points to stand at 15,524 while the Selective Categories Index – CSCX lost 26 points to reach 9,345 till then.