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Stocks tumbled at opening on Thursday despite the securities regulator reducing the lower limit circuit breaker to 3 per cent instead of 10 per cent in a single-day.
The stock market regulator on Wednesday narrowed the scope for individual stocks to fall in a trading day in an effort to halt panic selling and thereby slow down the fall of the index.
But the effort virtually failed to bring any positive result as the key index of the Dhaka Stock Exchange (DSE) started to plunge as soon as the market opened on Thursday.
DSEX, the key index of the DSE, fell 89 points or 1.6 per cent to 5,489 after the first hour of trading on Thursday as panicked investors dumped their holdings, in fear of losing their funds.
The blue chip index DS30, a group of 30 prominent companies, shed 19 points to 1965 while the DSES Index, which represents Shariah-based companies, also plunged 21 points to 1,208 till then.
Turnover, a crucial indicator of the market, remained low and amounted to Tk 2.10 billion after the first hours of trading.
Of the issues traded, 350 stocks price erosion, only 14 advanced, and 21 remained unchanged till then.
The Chittagong Stock Exchange (CSE) also opened sharply lower with the CSE All Share Price Index – CASPI –losing 155 points to 15,824, also at 11:00 am.