Dhaka, Bangladesh (BBN) – Bangladesh’s stocks witnessed steep fall in early hour of trading on Monday, the second trading session of the week, as investors continued on selling spree.
Analysts said following the central bank’s concern over the recent bullish momentum in the capital market, the retail investors remained on selling mood, fearing further fall in stock prices.
Effective surveillance is necessary so that the process of recovery from the bearish trend since 2010 remains under the regulator’s control, the central bank said in its latest monetary policy statement.
“Otherwise, investors will seriously be affected like previous times,” Bangladesh Bank Governor Fazle Kabir said while announcing the monetary policy for the second half of the fiscal year on Sunday.
Both bourses – the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) saw sharp fall till the report was filing at 10:45am.
DSEX, the key index of the DSE slumped 63.84 points while the Selective Category Index of port city bourse plunged 97.62 points within first 15 minutes of the day’s trading at 10:45am.
DSEX, the benchmark index of the DSE, went down by 63.84 points or 1.16 per cent to stand at 5437.03 points, when the report was filed at 10:45am.
The two other indices also witnessed steep fall till then.
The DS30 index, comprising blue chips, also lost 16.51 points or 0.82 per cent to reach at 1986.74 points.
The DSE Shariah Index (DSES) shed 11.33 points or 0.88 per cent to stand at 1,263.46 points.
Turnover, the important indicator of the market, stands at BDT 1.10 billion when the report was filed at 10:45 million, riding on Islami Bank and Bangladesh Shipping Corporation.
Of the issues traded till then, 41 advanced, 200 declined and 12 issues remained unchanged.
Islami Bank dominated the turnover chart with shares worth BDT 67 million changing hands till then, followed by Bangladesh Shipping Corporation BDT 61 million, Beximco BDT 53 million, LankaBangla Finance BDT 49 million and Saif Powertec BDT 45 million.
The port city bourse CSE also witnessed sharp fall in early trading with its Selective Category Index – CSCX – falling 97.62 points to stand at 10204.28 points, also at 10:45am.
Of the issues traded till then, 26 gained, 86 declined and 6 issues remained unchanged with a turnover value of BDT 40 million.