Dhaka, Bangladesh (BBN) – Bangladesh’s stocks fell further on Tuesday as the losers took heavy control over the gainers following investors’ panic sale.
The country’s premier bourse, Dhaka Stock Exchange (DSE) witnessed another big correction on the day by extending the falling trend of previous session.
After daylong selling frenzy, the DSE core index lost 2.11 per cent or 87.24 points to close at 4,036.23 points, the lowest level since the index settled at 4,014.37 points on May 5, 2015.
The DSE market capitalisation also witnessed a major erosion of BDT 274 billion following continuous and sharp price corrections of last eight sessions.
Besides, two selective indices, Blue Chip index, DSE30 and Shariah index, DSES also went down by 26.14 points and 22.93 points to settle at 1361.64 points and 907.03 points respectively.
Losers took a strong lead over gainers as out of 355 issues traded, 32 securities gained price while 293 declined and 30 remained unchanged.
Meanwhile, a group of aggrieved investors staged demonstration in front of the DSE office on Tuesday, protesting the free fall of share prices.
The market coordination and monitoring committee of the Ministry of Finance (MoF) has called a view-exchange meeting on January 20 to discuss the market situation.
The top 10 gainers were Phoenix Finance First Mutual Fund, ADN Telecom, EBL NRB Mutual Fund, CAPM BDBL Mutual Fund, Olympic Industries, New Line Clothing, AB Bank First Mutual Fund, Exim Bank First Mutual Fund, Popular Life First Mutual Fund and BSRM.
LafargeHolcim Bangladesh topped the turnover chart followed by Beacon Pharma, ADN Telecom, KPCL, Square Pharma, Ring Shine, Brac Bank, Northern Jute, Daffodil Computer and Grameenphone.
The top 10 losers were SS Steel, Al-haj Textile, Golden Harvest, Meghna Petroleum, Samata Leather, AIBL First Islami Mutual Fund, Meghna Condensed Milk, Style craft, Beacon Pharma and Northern Jute.
On the other hand, Chittagong Stock Exchange (CSE) also closed at red extending the losing trend of previous day.
CSCX and CASPI declined by 166.14 points and 274.74 points to stand at 7446.82 points and 12295.34 points respectively.
At CSE, a total of 6,537,816 shares and mutual fund of 244 companies were traded, of which 21 issues advanced while 203 declined and 20 issues remained unchanged.