Dhaka, Bangladesh (BBN) – Dhaka stocks witnessed sharp decline amid street protest and fell for the third consecutive session on Monday and key index came down to bellow the 5,000-mark as investors sell shares out of panic.
The market opened with a sharp decline and DGEN plunged 125 points within five minutes. The downtrend continued throughout the session amid moderate fluctuation and finally ended more than 167 points lower.
The benchmark general index of the Dhaka Stock Exchange, generally known as DGEN, the main gauge of the market slipped 167.68 points or 3.33 per cent to close at 4,864.30.
Market insiders said that the market sentiment was already in negative mood for the last few sessions following the news of worsening economic situation, upcoming monetary policy and ongoing liquidity shortage.
Moreover, the National Board of Revenue (NBR) further clarification regarding investing undisclosed money in the stock market intensified the fear among the investors, they said.
Turnover value slightly rose and stood at BDT 3.16 billion in value term, against BDT 2.48 billion in the previous session.
Out of 256 issues traded, only 10 advanced, 242 declined and four remained unchanged.
Grammenphone (GP) was the topped turnover chart with shares worth BDT 138.20 million changing hands.
National Tubes was the day’s highest gainer posting a rise of 0.16 percent while Saiham Textile.
BBN/SSR/AD-16Jan12-9:20 pm (BST)