Dhaka, Bangladesh (BBN) – Bangladesh’s stocks stayed at downward trend at midday on Thursday as the market reacted negatively to the central bank’s action against the over-exposed banks.
Bangladesh Bank (BB) has fined seven banks recently for violating stockmarket rules by way of miss-reporting on share investment and over-exposure which made investors cautious.
Following the previous day’s decline, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened lower amid low trading activities.
Within first 15 minutes of trading, the key index of the country’s prime bourse fell more than 23 points while the Selective Category Index of port city bourse lost 31 points at 10:45am.
After 30 minutes of trading, it slowed down somewhat and DSEX lost 8.56 points while the Selective Category Index of port city bourse dropped 18 points at 11:00am.
After 90 minutes of trading, DSEX fell more than 16 points, while the Selective Category Index of port city bourse slumped 64 points when the report was filed at 12noon.
DHAKA STOCK EXCHANGE:
DSEX, the prime index of the DSE stands at 6,092 points, losing 16.94 points or 0.28 percent at 12noon.
Two other indices also saw downward trend till then. The DS30 index, comprising blue chips fell 5.78 points or 0.26 percent to reach at 2,203 points.
The DSE Shariah Index (DSES) lost 3.73 points or 0.28 percent to reach at 1,337 points.
Turnover, the crucial indicator of the market, stands at BDT 2.69 billion, when the report was filed at 12:00 noon.
Brac Bank led the turnover chart with shares worth BDT 240 million changing hands, followed IFAD Autos BDT 100 million, City Bank BDT 99 million, Shahjalal Bank BDT 92 million and Uttara Bank BDT 86 million.
Of the issues traded till then, 126 advanced, 147 declined and 37 issues remained unchanged on the DSE trading floor.
CHITTAGONG STOCK EXCHANGE:
The port city bourse – the Chittagong Stock Exchange – (CSE) also saw downward trend till then with its Selective Category Index – CSCX – shedding 64 points to stand at 11,430 points, also at 12noon.
Of the issues traded till then, 55 gained, 78 declined and 19 issues remained unchanged with BDT 68 million in turnover.