Dhaka, Bangladesh (BBN)– Bangladesh’s major bourse witnessed the biggest single-day fall in the last 14-month on Sunday as nervous investors went for selling spree, fearing further fall.
DSEX, the prime index of the Dhaka Stock Exchange dipped below 5,200-mark, shedding 109.08 points or 2.06 percent to close the session at 5,176.75 points.
It was the biggest single-day fall in the last 14-month since July 23 last year, when the DSEX fell 125.18 points or 3.18 percent.
Losers outpaced gainers as out of 302 issues traded, 233 declined, 54 advanced and 15 remained unchanged on the DSE floor.
IDLC Investments said: “The downbeat accelerated and slump the day’s market. As a result, DSEX shed 109.1 points, breaking through 5,200-mark”.
As the prime and blue chip index rallied in the last two months’, investors rather thinking of pursuing safe strategy and chasing out, on the fear of massive correction,” said the merchant bank.
“The stock market endured its biggest single-day fall this year with the DSEX losing more than two per cent as most of the investors are uncertain regarding the sustainability of the market’s recent bull run,” said International Leasing Securities, in an analysis.
LankaBangla Securities said: “After having sharp gain in preceding six weeks, consolidation continued around 5,300 in last few days, while Sunday’s big correction spooked the market”.
BBN/SSR/AD-20Oct14-11:14am (BST)
