Stocks tumbled today while the turnover of the market also dropped amid fears that the listed companies may perform badly in the days to come because of a gradual rise in raw materials’ prices.
Winning streak at bourses halted thebangladeshtoday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thebangladeshtoday.com Daily Mail and Mail on Sunday newspapers.
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Published: 08 May 2021 09:05 PM BdST
Updated: 09 May 2021 08:57 AM BdST Reaz Islam, CEO of LR Global Bangladesh, speaks at a media briefing in Dhaka on Saturday. Reaz Islam, CEO of LR Global Bangladesh, speaks at a media briefing in Dhaka on Saturday. Reaz Islam, CEO of LR Global Bangladesh, speaks at a media briefing in Dhaka on Saturday.
LR Global had gone through a long episode of “adversities” due to a conspiracy by some former commissioners at Bangladesh Securities and Exchange Commission. );
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So says CEO Reaz Islam.
The conspiracy to “damage” LR Global’s performance in Bangladesh had a “huge impact” on the local market, Islam said at a news conference in Dhaka on Saturday.
Stocks plunge 2.5pc on panic sales Star Business Report Star Business Report
The key index of the Dhaka Stock Exchange (DSE) nosedived more than 2.53 per cent yesterday due to pressure stemming from panic sales by general investors.
The DSEX fell 142 points to 5,504.78, the lowest in one and a half months. Maybe people have lost confidence although there is no reason for losing faith in the market, said Sharif Anwar Hossain, president of the DSE Brokers Association. The market is falling as some investors sold off shares and others are following suit, he said, adding that such copycat tendencies intensify market falls.