Stock prices continued to fall on Tuesday both in Dhaka Stock Exchange and Chittagong Stock Exchange on higher selling spree driven by profit-taking attitudes, brokers said.
"Investors remained very cautious due to uncertainty in politics and also influenced by a news on the High Court order that rejected several petitions challenging legality of a SEC circular", they said.
The SEC circular said two percent stake in companies must be held by individual directors and 30 percent by the sponsor-directors together. This reduced the volume of trade and pushed down the prices of most shares.
The Dhaka Stock Exchange's key index ended 117.38 points lower at closing while the DGEN closed at 4905.57 points or 2.34 percent down despite an initial surge during the week's third business day.
Shares and mutual funds worth around Tk 2.62 billion changed hands with prices of 13 issues gaining, 240 declining and 13 remaining at their opening prices. The day's turnover was around Tk 2.16 billion less than Monday's.
Both the key index and turnover fell a day after the High Court rejected several petitions challenging legality of a SEC circular that said two percent stake in companies must be held by individual directors and 30 percent by the sponsor-directors together.
The DSE key index gained around 50 points on Monday. It lost around 19 points at the week's opening.
The benchmark index shed around 84.84 points or 1.67 percent last week and the daily average turnover was around Tk 3.57 billion.