Dhaka, Bangladesh (BBN)– The key index of Bangladesh’s prime bourse tumbled to a fresh 41-month low on Sunday as worried investors continued their selling binge amid growing concern over the country’s overall economy.
DSEX, the prime index of the Dhaka Stock Exchange, lost 15.95 points or 0.35 per cent to settle at 4,498. It was the lowest level of DSEX in more than 41 months since July 10, 2016, when DSEX was 4,495.
The DSEX has lost a cumulative 283 points in the past one month while it shed 1,452 points since January 24, this year, when the index peaked at 5,950.
Market insiders said lack of confidence, poor macroeconomic indicators, dearth of quality stocks and liquidity crunch exacerbated the ongoing confidence crisis among investors.
Investors mostly followed cautious stance as investors struggled with a persistent bearishness on the market and gloomy macroeconomic outlook, they explained.
Two other indices also ended lower. The DS30 index, comprising blue chips, fell 9.50 points to finish at 1,538 and the DSE Shariah Index lost 1.54 points to close at 1,015.
Turnover, a crucial indicator of the market, also fell to BDT 3.06 billion, which was 12 per cent lower than the previous day’s turnover of BDT 3.49 billion.
The large-cap sectors showed mixed performance with telecomm booked the highest gain of 1.01 per cent, followed by food 0.28 per cent, and pharmaceuticals 0.11 per cent.
On the other hand, the Chittagong Stock Exchange also ended lower with its All Shares Price Index (CASPI)—losing advancing 58 points to close at 13,674 and the Selective Categories Index – CSCX –shedding 36 points to finish at 8,295.
The losers beat gainers, as 129 issues closed lower, 57 ended higher and 33 remained unchanged on the CSE.
The port city bourse traded 10.15 million shares and mutual fund units worth BDT 197 million in turnover.