The New Nation - Internet Edition

UNB, Dhaka

Finance Adviser Dr Mirza Azizul Islam yesterday said the recent share market volatility might be the fall-out of investors' concern over the post-election situation.

"The investors are uncertain what is going to happen after the (general) election," he told reporters at the Securities and Exchange Commission (SEC), replying to a question on the sluggish trend of the stock market for nearly two months.

On Wednesday, shares on the Dhaka Stock Exchange (DSE) incurred heavy losses across the board for the third consecutive day.

The Finance Adviser was talking to the reporters after attending a meeting at the SEC that decided to introduce "book building" method in issuing primary shares by this year to attract more companies to get listed.

SEC chairman Faruq Ahmad Siddiqui chaired the meeting attended by the CEOs of the Dhaka and Chittagong stock exchanges and senior SEC officials.

The capital market regulator invited the Adviser to the meeting to apprise him of the reforms the SEC is going to introduce at the demand by the stock market stakeholders.

Meanwhile, the DSE General Index (DGEN) shed 58 points or 2.22 percent to close at 2,559 points on Wednesday while the All Shares Price Index (DSI) fell 48 points or 2.21 percent to close at 2,117 and the DSE-20 index of selective shares dropped 49 points or 2.21 percent to close at 2,174 points.

Of the total 239 issues traded on the day, only 26 registered gains, 205 incurred losses and eight remained unchanged.

The day's total turnover, however, increased to Tk 1.80 billion from Tk 1.70 billion on Tuesday while market capitalization increased to Tk 976 billion from Tk 969 billion.

Uttara Bank, Beximco Pharma, Titas Gas, Beximco, ACI Limited, National Bank, Lankabangla Finance, Square Pharma, AB Bank and Brac Bank were the day's turnover leaders in terms of value.

The day's volume leaders were AIMS 1st Mutual Fund, Beximco Pharma, Beximco Textiles, Beximco, GRAMEENS2, Golden Son, Titas Gas, Lankabangla Finance, Keya Detergent and Keya Cosmetics.

Top gainers of the day were Fine Foods, BD Luggage, Chittagong Vegetables, Style Craft, Modern Dyeing, Beach Hatchery, Bionic Foods, 2nd ICB, Meghna Condensed Milk and Rose Heaven Ball.

Top losers were Shinepukur Ceramics, Renwick, Beximco, Dhaka Fish, Northern Insurance, Eagle Star, Apex Spinning, Eastern Cables, BD Online and ACI Limited.