Dhaka, Bangladesh (BBN)– Bangladesh’s stocks plummeted on Sunday, stretching the losing streak to the third session as investors remained cautious amid global forecast about the consequences of escalating coronavirus outbreak on the world economy including Bangladesh.
DSEX, the key index of the Dhaka Stock Exchange, plunged by 2.21 per cent, or 97.10 points, to close at 4,287.38 points on the day. The DSEX lost 178.68 points in the last three sessions and the index shed 470 points in the last 11 sessions with just two positive sessions.
The DSEX started losing from the very beginning of Sunday and descended more firmly to end the session deep into the negative trajectory as investors remained worried about the consequences of global escalation of the coronavirus epidemic, according to market operators.
The shariah based index DSES declined 1.66 per cent or 16.86 points to close at 999.06 points.
The DS30 index comprising blue chip securities closed at 1435.0 points with a loss of 1.86 per cent 27.24 points.
Of 355 issues traded, only 37 advanced, 304 declined and 14 were unchanged on the premier bourse DSE.
The turnover stood at above BDT 4.28 billion which was 3.32 per cent higher than the turnover of the previous session.
Of the major sector sectors, cement sector witnessed the highest price correction of 4.9 per cent.
Of other major sectors which witnessed price correction, bank declined 2.8 per cent, engineering 3.0 per cent, financial institutions 2.4 per cent, fuel & power 2.2 per cent, pharmaceuticals & chemicals 0.7 per cent and textile 3.90 per cent.
Investors’ participation was concentrated mostly on pharmaceuticals & chemicals sector which grabbed 20.4 per cent of the market turnover followed by engineering 15.2 per cent, textile 14.8 per cent, and fuel & power 7.4 per cent.
VFS Thread Dyeing topped the scrip wise turnover chart with a value of BDT 140 million followed Beacon Pharmaceuticals Tk 119 million, Square Pharmaceuticals BDT 93 million, Khulna Printing & Packaging BDT 85 million and Khulna Power Company BDT 78 million.
Apex Spinning was the number one gainer with a rise of 9.8 per cent to close at BDT 127.3 each.
VFS Thread Dyeing was the number one loser after declining 9.9 per cent to close at BDT 26.4.
On the other hand, all indices also declined on the Chittagong Stock Exchange (CSE) on Sunday as the share prices of majority number of listed securities declined.
The benchmark index CASPI declined 2.28 per cent or 305.88 points to close at BDT 13098.11 points.
Of 245 issues traded, 31 advanced, 196 declined and 18 remained unchanged and the turnover stood at more than BDT 200.88 million on the port city bourse CSE.