Dhaka, Bangladesh (BBN) – Bangladesh’s stocks stayed at the downward trend at midday on Tuesday as the market reacted negatively to the central bank’s action against the overexposed banks.
Bangladesh Bank fined seven banks for violating stock market rules by way of miss-reporting on share investment and over-exposure which created a panic among investors.
As a result, DSEX plunged 1.23 percent on Monday, the biggest single-day fall in five months.
Following the previous day’s sharp 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 33 points while the Selective Category Index of port city bourse lost 56 points at 10:45am.
After 30 minutes of trading, DSEX lost 13 points while the Selective Category Index of port city bourse los fell 30 points at 11:00am when the report was filed.
After 90 minutes of trading, DSEX fell more than 30 points, while the Selective Category Index of port city bourse slumped 70 points when the report was filed at 12noon.
DHAKA STOCK EXCHANGE:
DSEX, the prime index of the DSE stands at 6,098 points, losing more than 30 points or 0.49 percent at 12noon.
Two other indices also saw downward trend till then. The DS30 index, comprising blue chips fell 7.73 points or 0.35 percent to reach at 2,192 points.
The DSE Shariah Index (DSES) lost 0.65 points or 0.04 percent to reach at 1,348 points.
Turnover, the crucial indicator of the market, stands at BDT 2.88 billion, when the report was filed at 12noon.
LankaBangla Finance led the turnover chart with shares worth BDT 229 million changing hands, closely followed Exim Bank BDT 213 million, Aamra Networks BDT 112 million, Islami Bank BDT 111 million and Shahjalal Bank BDT 109 million.
Of the issues traded till then, 99 advanced, 155 declined and 56 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 70 points to stand at 11,452 points, also at 12noon.
Of the issues traded till then, 43 gained, 105 declined and 24 issues remained unchanged with BDT 211 million in turnover.