Dhaka, Bangladesh (BBN) – Bangladesh’s stocks plunged on Tuesday with Dhaka Stock Exchange turnover dipping below BDT 3.0 billion-mark after seven months.
The market faced the nosedive as most of the investors were reluctant to make fresh investments, experts said.
Though the market opened with positive mood, but it could not sustain the trend within 10 minutes of the trading and the trend continued till the closing of the session.
Brokers said, the market plunged as investors failed to predict the future.
The key index of Dhaka Stock Exchange shedded 41.24 points while the selective category index of Chittagong Stock Exchange also dropped 71.69 points at closing.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), came down below the 4,600-mark and settled at 4,589.33, after plunging 41.24 points or 0.89 percent.
The DS30 index, comprising blue chips, lost 15.52 points or 0.88 percent to end at 1,735.69.
The DSE Shariah Index (DSES) shed 8.28 points or 0.74 percent to finish at 1,101.61.
DSE turnover dropped to BDT 2.97 billion, which was 28.43 percent lower than the previous session’s BDT 4.15 billion.
The losers took a strong lead over the gainers as out of 321 traded issues; 205 closed lower, 74 higher and 42 remained unchanged on the DSE trading floor.
Lafarge Surma Cement dominated the day’s turnover chart with shares of BDT 169 million changing hands followed by Shahjibazar Power Comany Ltd, United Airways, KDS Accessories and C & A Textile.
Miracle Industries was the day’s best performer, posting a rise of 9.66 percent while Olympic Accessories was the day’s worst loser, plunging by 13.34 percent.
The port city bourse, Chittagong Stock Exchange (CSE), closed lower with its Selective Categories Index – CSCX – slumping 71.69 points to end at 8,530.18.
Losers beat gainers 155 to 55, with 27 issues remaining unchanged on the port city bourse that traded 8.24 million shares and mutual fund units with a value of BDT 268 million.