Dhaka, Bangladesh (BBN)-Bangladesh’s stocks witnessed sharp decline on Monday with turnover falling significantly as budgetary incentives virtually failed to revive investors’ confidence.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), plunged 75.43 points or 1.63 per cent to settle at 4,542.27 points, after witnessing volatility throughout the trading session.

The two other indices also ended in the red. The DS30 index, comprising blue chips, lost 27.52 points or 1.55 percent to close at 1,748.16 points.

The DSE Shariah Index – DSES- plunged 18.19 points or 1.62 per cent to end at 1,103.18 points.

Turnover, the most important indicator of the market, came down to BDT 5.86 billion, registering a decline of 9.56 percent over the previous day’s BDT 6.48billion.

The losers took a strong lead over the gainers as out of 318 issues traded, 232 declined, 65 advanced and 21 remained unchanged on the DSE trading floor.

Khulna Power Company was the day’s top turnover leader with shares worth BDT 588.24 million changing hands followed by Beximco, Summit Power, United Airways and Lafarge Surma Cement.

Al-Haj Textiles was the day’s top gainer, posting a rise of 9.97 per cent while Purabi General Insurance was the worst loser, plunging by 17.67 percent.

The port city bourse Chittagong Stock Exchange (CSE) also saw steep fall with its Selective Categories Index- CSCX- plunged 174.36 points to close at 8,459.58 points.

Losers beat gainers 189 to 32, with 22 issues remaining unchanged at the port city bourse that traded 21.17 million shares and mutual fund units, turnover value of BDT 833.76 million.