Dhaka, Bangladesh (BBN) – Bangladesh’s stocks continued to plunge due mainly to inactiveness of investors amid low confidence, market operators said.
The benchmark Dhaka Stock Exchange (DSE) general index (DGEN) experienced 15 per cent fall on Tuesday for the first time in the current calendar year.
On the day, the market started with a flying note and gained about 80 points within the first five minutes but afterward it went to negative. For the remaining session, the market fluctuated several times and at last ended the session negative.
The DGEN lost 2.86 per cent or 132.53 points to close at 4,506.09 on the day. The DGEN was stood at 4519 points on December 29, 2009.
All shares price index (DSI) shed 2.83 per cent or 109.94 points to close at 3775.76. The DSE-20 declined by 1.49 per cent or 52.91 points to close at 3484.03.
Among the major sectors, banks and non-banking financial institutions (NBFIs) went down by 2.09 percent and 3.26 percent respectively, while telecommunications, pharmaceuticals and fuel and power shed 2.0 percent each.
At the end of the day’s session, the turnover value stood at BDT 2.33 billion, while it was BDT 2.34 billion in the previous session.
Out of 259 issues traded, only 18 advanced, 230 declined and 11 remained unchanged.
Commenting on the market, DSE President Shakil Rizvi said a negative impact reflected in the market following some recent decisions taken by the government.
“The rumours regarding upcoming monetary policy, liquidity crisis, impatience among the investors and overall economic situation of the country also contributed to the continued market fall,” he noted.
The DSE chief also urged the investors to face the present situation with patience, as ups and downs are a part of the capital market.
On Tuesday, Beximco Limited topped the turnover chart with shares worth BDT 103.9 million changed hands.
The other turnover leaders were Grameenphone, Jamuna Oil, RN Spinning, United Airways, National Bank, Social Islami Bank, Beacon Pharma, Maksons Spinning and Keya Cosmetics.
The day’s top ten gainers were ICB 1st NRB MF, Aziz Pipes, Southeast Bank 1st Mutual Fund, EBL NRB Mutual Fund, 6th ICB MF, Samata Leather, Meghna Pet Industries, Bata Shoes, Jamuna Oil and Zeal Bangla Sugar Mills.
The Chittagong Stock Exchange also declined on Tuesday. The Selective Categories Index lost 291.51 points, to end the day at 12,091.43.
Losers beat gainers 158 to 15 with four securities remaining unchanged on the port city bourse, which traded more than 6.962 million shares and mutual fund units with a value of BDT 303 million.
BBN/SSR/AD-25Jan12-8:01 am (BST)
