DSE sees biggest single-day fall in seven months

The DESX, prime index of Dhaka Stock Exchange, on Monday fell by 182 points or nearly 3 per cent to 6,456 points as panicked investors sold their shares.

The drop in DESX on Monday was the biggest single-day fall in the last seven months. The DESX dropped to 6,425 point on 29 July 20 last year.

Only seven companies saw rise in share prices while 364 companies or 96 per cent witnessed a fall.

The DESX point continued to drop since mid-January. The Russian invasion accelerated the fall and decreased transaction significantly.

Transaction stood at over Tk 12 billion (1,200 crore) on February this year. Transaction dropped to Tk 7.34 billion (734 crore) on Monday.

People related to the market including several companies' CEOs and investors said investors showed a maximum tendency to sell their shares since the beginning on Monday.

Several investors alleged some brokerage houses and merchant banks forcefully sold shares of indebted investors in the last couple of days.

Earlier, lending companies sent letters to the investors, but many investors failed to adjust their loans. As a result, some investors fell under the forced sale category.

Some investors even sold their shares out of fear. Officials of brokerage houses allegedly advised investors selling the shares. So many retail investors sold their shares in loss.