Dhaka, Bangladesh (BBN) – Bangladesh’s stocks witnessed sharp decline and the key index of the major bourse plunged below 5,800-mark once again as investors went on panic driven sell-off on major sectors.
Analysts said the investors went on selling binge as quarterly earnings of many companies failed to meet investors’ expectations.
The market opened on a negative note and the downward trend continued till the end of the session amid no sign of reversal.
Finally DSEX plunged more than 74 points while the CSE All Share Price Index fell 230 points at closing.
DHAKA STOCK EXCHANGE:
DSEX, the key index of the DSE, settled at 5,739, losing 74.56 points or 1.28 percent over the previous session.
The two other indices also saw sharp decline. The DS30 index, comprising blue chips, fell sharply by 28 points or 1.30 percent to finish at 2,143.
The DSE Shariah Index (DSES) lost 18.70 points or 1.39 percent to close at 1,325.
Turnover, another important indicator of the market, increased slightly and the total turnover on the DSE amounting to BDT 5.92 billion, which was 7.83 percent higher than the previous day’s BDT 5.49 billion.
The losers took a strong lead over the gainers as out of 337 issues traded, 227 closed lower, 73 ended higher and 37 issues remained unchanged on the DSE trading floor.
Beximco topped the turnover chart with 15.30 million shares worth over BDT 485 million changing hands, closely followed by BRAC Bank, Square Pharmaceuticals, Navana CNG and United Power.
Queen South Textile was the day’s best performer, posting a gain of 9.97 percent while Bank Asia was the day’s worst loser, losing 12.44 percent following its price adjustment after record date.
CHITTAGONG STOCK EXCHANGE:
Port city’s bourse CSE also ended lower with the CSE All Share Price Index – CASPI – shedding 230 points to settle at 17,696 and Selective Categories Index – CSCX – losing 137 points to finish at 10,698 points.
Here too, the losers beat the gainers as 161 issues closed lower, 51 ended higher and 16 remained unchanged.
The port city bourse traded 9.61 million shares and mutual fund units worth more than BDT 348 million in turnover.