Dhaka, Bangladesh (BBN) – Bangladesh’s stocks witnessed a sharp decline on Sunday as worried investors continued their sell-offs on selective large-cap issues.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 64.20 points or 1.44 percent to settle at 4,388.
Brokers said investors are struggling with ongoing volatile market while gloomy macroeconomic outlook and bill passed over depositing surplus money of state agencies to the national exchequer exacerbated the situation.
Two other indices also closed lower. The DS30 index, comprising blue chips, lost 21.40 points to finish at 1,492 and the DSE Shariah Index plunged 14.99 points to close at 1,012.
Turnover, a crucial indicator of the market, also fell to BDT 3.62 billion, which was 3.72 percent lower than the previous day’s turnover of BDT 3.76 billion.
Losers took a strong lead over the gainers as out of 356 issues traded, 271 closed lower, 43 ended higher and 42 remained unchanged on the DSE trading floor.
LafargeHolcim continued to top the turnover chart with shares worth nearly BDT 211 million changing hands, followed by Bangladesh Shipping Corporation, ADN Telecom, Singer Bangladesh and Indo-Bangla Pharma.
Tosrifa Industries was the day’s best performer, posting a gain of 9.09 percent while Delta Spinning Mills was the worst loser, losing 8.0 percent.
The port city’s bourse, the Chittagong Stock Exchange, also ended lower with its All Shares Price Index (CASPI)—shedding 131 points to close at 13,411 and the Selective Categories Index – CSCX –losing 81 points to finish at 8,130.
Here too, the losers beat gainers, as 152 issues closed lower, 47 ended higher and 27 remained unchanged on the CSE.
The port city bourse traded 6.72 million shares and mutual fund units worth BDT 136 million in turnover.