Dhaka, Bangladesh (BBN)- Bangladesh’s stocks witnessed a steep fall on Sunday with sluggish trading activities as investors were on selling mood throughout the session.
Analysts said the market plunged as investors mostly refrained from injecting fresh funds into the market amid anticipation that the Bangladesh Bank (BB) could take measures in the upcoming monetary policy to curb credit growth.
Following the previous week’s sharp decline, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) witnessed negative trend with low trading activities.
Within first 15 minutes of trading, the key index of the country’s prime bourse advanced 2.67 points while the CSE All Share Price Index (CAPSI) of port city’s bourse fell 37 points at 10:45am.
After first 30 minutes of trading, the key index of the country’s prime bourse fell 14 points while the CSE All Share Price Index (CAPSI) lost 42 points at 11:00am when the report was filed.
After 90 minutes of trading, DSEX plummeted 35 points while the CSE All Shares Price Index lost 80 points at 12noon.
The downturn continued till end of the session with no sign of reversal, finally DSEX ended more than 61 points lower while CSE All Share Price Index (CAPSI) lost 183 points.
DHAKA STOCK EXCHANGE:
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), settled at 6,118, losing 61.42 points or 0.99 percent over the previous session.
The two other indices also ended lower. The DS30 index, comprising blue chips fell 17.74 points or 0.78 percent to finish at 2,242.
The DSE Shariah Index (DSES) also lost 7.22 points or 0.52 percent to close at 1,384.
The market activities also fell with the total turnover on DSE amounting to BDT 3.28 billion, which was 14 percent lower than the previous day’s BDT 3.81 billion.
The losers took a strong lead over the gainers as out of 335 issues traded, 253 closed lower, 48 closed higher and 34 remained unchanged on the DSE trading floor.
Bangladesh Thai Aluminium topped the DSE turnover chart with 4.44 million shares worth BDT 139 million changing hands, followed by IFAD Autos, National Tubes, Keya Cosmetics and Square Pharmaceuticals.
CHITTAGONG STOCK EXCHANGE:
The port city bourse Chittagong Stock Exchange (CSE) also closed lower with its CSE All Share Price Index – CAPSI- losing 183 points to close at 18,916.
The Selective Categories Index – CSCX – also fell 112 points to close at 11,424 points.
Losers beat gainers as 175 issues closed lower, 44 closed higher and 21 remained unchanged on the CSE.
The port city bourse traded 6.53 million shares and mutual fund units worth more than BDT 164 million in turnover.