Dhaka, Bangladesh (BBN) - Dhaka stocks witnessed a sharp fall on Thursday along with declining turnover value as investors took profit, market operators said.
They also said mainly price correction as well as forced sale by some brokerage houses and merchant banks sent the market into red.
The market opened with a positive note, gaining more than 40 points within five minutes of trading. After that it started declining and fell gradually throughout the session amid moderate ups and downs.
The DSE General Index (DGEN), the main gauge of the market, slipped 141.64 points or 3.01 percent to close at 4,553.76 on the day.
The broader All Shares Price Index (DSI) lost 116.28 points or 2.86 percent to close at 3,810.73. The DSE-20 Index, comprising blue-chip shares, also went down by 104.10 points or 2.80 percent to close at 3,609.82.
The turnover value declined by 23.73 percent on the day and stood at BDT 4.08 billion, compared to BDT 5.35 billion in the previous session.
Out of the 259 issues traded, 239 declined, only 16 advanced, while four remained unchanged.
A total of 95.58 million shares changed hands on the day against 119.18 million in the previous session. The trade deals also declined to 121,080 against Wednesday’s 151,345.
The total market capitalization of the DSE stood at BDT 2,368.99 billion against BDT 2,422.64 billion in the previous session.
All sectors declined on the day, and non-banking financial institutions (NBFIs) posted the largest fall with 4.18 percent decline.
Among other major sectors, fuel and power lost 2.92 percent, pharmaceuticals 2.70 percent, banks 2.56 percent, and telecommunications lost 2.25 percent.
RN Spinning topped the turnover chart with shares worth BDT 223.66 million changing hands.
The other turnover leaders were Beximco Limited, United Airways, Southeast Bank, Peoples Leasing, Summit Power, BD Thai, GP, Jamuna Oil, and NCC Bank.
Kay and Que was the day’s highest gainer, posting a rise of 5.26 per cent. It was followed by BD Thai, ICB AMCL First MF, Pragati Life Insurance, MBL First MF, Trust Bank, IBBL Mudaraba Perpetual Bond, Bata Shoe, and Ibn Sina.
On the other hand, Bank Asia was the day’s worst loser, declining 18.59 per cent, following its price adjustment after record date.
It was followed by Southeast Bank, National Housing Finance, Rupali Bank, Progressive Life Insurance, Stylecraft, IPDC, Central Insurance, Sonargaon Textile, and Peoples Leasing.
BBN/SSR/AD-01Mar12-9:10 pm (BST)
