Dhaka, Bangladesh (BBN)– Bangladesh’s stocks witnessed sharp fall in early hour of trading on Wednesday as the central bank slashed the limit of advance-deposit ratio (ADR).
The Bangladesh Bank (BB) slashed the limit of advance-deposit ratio (ADR) on Tuesday to help check any possible liquidity pressure on the market due to the banks’ ‘aggressive’ lending.
The ADR is re-fixed at 83.50 per cent for all the conventional banks and at 89 per cent for the Shariah-based Islamic banks. The existing ratios are 85 per cent and 90 per cent respectively. The banks must adjust it gradually by June 30.
Following the previous day’s downturn, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened downward trend amid low trading activities.
After first 15 minutes of trading, the key index of the country’s prime bourse fell more than 41 points while the CSE All Share Price Index (CAPSI) of port city’s bourse lost 53 points at 10:45am when the report was filed.
DHAKA STOCK EXCHANGE
DSEX, the prime index of the DSE, went down by 41.57 points or 0.67 percent to reach at 6,086 points at 10:45am.
The two other indices also saw downward trend till then. The DS30 index, comprising blue chips also fell 16.51 points or 0.72 percent to reach at 2,250 points.
The DSE Shariah Index (DSES) lost 8.32 points or 0.59 percent to stand at 1,406 points till then.
Turnover, the important indicator of the market, stood at Tk 434 million when the report was filed at 10:45am.
Of the issues traded till then, 35 advanced, 155 declined and 39 remained unchanged.
Pharma Aids was the most traded stocks till then with shares worth BDT 45 million changing hands, closely followed by Golden Harvest Agro BDT 34 million, Monno Ceramic Industries BDT 22 million, Paramount Textile BDT 21 million and Alif Industries BDT 16 million.
CHITTAGONG STOCK EXCHANGE
The port city bourse – the Chittagong Stock Exchange – (CSE) also saw downturn till then with CSE All Share Price Index- CAPSI- losing 53 points to stand at 18,901, also at 10:45am.
The Selective Category Index – CSCX –also lost 33 points to stand at 11,416 points till then.
Of the issues traded till then, 8 gained, 46 declined and 11 issues remained unchanged with BDT 11 million in turnover.