DSE witnesses sharp fall

The Dhaka Stock Exchange (DSE) witnessed a sharp fall yesterday amid profit taking coupled with SEC action to curb liquidity inflow.
The DSE General Index dropped 81 points or 2.62 percent to close at 3,012 points from an all time high of 3,093 points recorded Monday.
The benchmark index plunged even below the 3,000 mark in midday trading to as low as 2,940 points, but later recovered to some extent.
Earlier, the market continued to rise since the beginning of this month.
“The market went through a correction amid profit taking coupled with SEC action to curb liquidity inflow… this pulled down the prices of shares across the board,” a stockbroker told UNB.
The Securities and Exchange Commission (SEC), the market watchdog, on Monday asked the merchant banks and stockbrokers to suspend portfolio loans from Tuesday aiming to hold back excessive investments in a shallow market.
As the SEC restriction became effective, the total turnover declined to Tk 2,387.50 million today from Tk 2,806.80 million on Monday.
Of the total 213 issues traded on the day, 182 declined while only 15 issues advanced and 16 remained unchanged.
Meanwhile, the DSE All Share Price Index fell about 64 points or 2.45 percent to close at 2,548 points yesterday from Monday's 2,612 points.