DHAKA, May 23: Widespread agitations by garment workers in and around Bangladesh’s capital city sent turnover and share prices tumbling on both the Dhaka and Chittagong stock exchanges on Tuesday.
The turnover at the Dhaka bourse went down to Tk136.4 million, lowest in May. The market indicator lost Tk27.7 million from the previous day.
The turnover at the Chittagong bourse slipped to Tk23.6 million from Tk44.8 million on Monday.
The DSE (Dhaka Stock Exchange) general index lost 8.13 points or 0.59 per cent to close at 1,366.96. The blue chips index DSE20 shed 5.46 points or 0.40 per cent to close at 1,345.37.
The CSE (Chittagong Stock Exchange) selective categories index lost 13.97 points or 0.70 per cent to close at 1,985.96. The blue chips index CSE30 shed 11.59 points or 0.42 per cent to close 2,720.36.
Violent protest by garment workers in and around the city had a negative impact on the investor mood, as the garment sector contributes a significant percentage of foreign exchange to the economy, resulting in thin trading, insiders said.
The garment workers in the Dhaka export processing zone clashed with agents of garment factory owners and the police on Monday over non-payment of wages.
One garment worker was shot dead reportedly by member of the Bangladesh Ansars, and more than 200 people were injured during the clashes. The workers set two garment factories on fire and damaged more than 100 others in and outside the exclusive zone at Zamagarah.
Monday’s violence led to widespread protests and violence in the capital city on Tuesday, as workers agitated to press home their 11-point charter of demands.