Dhaka, Bangladesh (BBN) – Dhaka stocks continued to plunge on Sunday amid volatile trading and all three indices slipped more than one per cent with significant declining in turnover value as participation of investors was low.
The market opened with a negative note and key index lost more than 25 points within five minutes. The downtrend continued throughout the session amidst lack of adequate buying interest and finally ended more than 82 points lower.
The benchmark general index of the Dhaka Stock Exchange, generally known as DGEN, the main gauge of the market dropped 82.50 points or 1.61 percent to close at 5,031.
The broader DSE All Shares Price Index (DSI) went down by 66.27 points or 1.55 percent to close at 4,207.07. The DSE-20 blue-chip index also lost 48.64 points or 1.27 percent to close at 3,767.74.
Market insiders said individual and institutional investors are unable to inject money into the market due to liquidity crisis which contributed the market fall.
Turnover value stood at only BDT 2.48 billion in value terms, against BDT 3.28 billion in the previous session, which was also one month low turnover since 18 December last year.
The low turnover further concern and doubt about whether institutions are participating in the market or not, commented a stock broker.
The losers took a strong lead over the gainers as out of 254 issues traded, only 29 advanced, 215 declined and 10 remained unchanged.
Grammenphone (GP) was the topped turnover chart with shares worth BDT 111.06 million changing hands.
Progressive Life Insurance was the day’s highest gainer posting a rise of 4.51 percent while Saiham Textile was the worst loser and lost 8.30 percent.
BBN/SSR/AD-15Jan12-9:56 pm (BST)