Dhaka, Bangladesh (BBN) – Bangladesh’s stocks witnessed a sharp fall on Sunday as investors went on selling spree, fearing further fall of stock prices.
Analysts said the market observed a major setback as investors sharply retorted to the monetary policy statement which was unveil Sunday.
There is no addition to capital market incentives in the monetary policy statement rather the Bangladesh Bank (BB) said that it would closely monitor the banks’ exposure to the capital market.
The key index of the advanced nearly 28 points within first five minutes of trading, but rest of the session fell sharply, ultimately ended 117 points lower.
The key index of DSE plunged 117.79 points while the selective category index of CSE shaded 247.06 points at the closing.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), came down to 5500.86, plunging by 117.79 points or 2.10 per cent, after remaining flat in the previous session.
The two other indices also ended lower.
The DS30, comprising blue chips, fell 35.24 points or 1.73 per cent to close at 2003.24 points.
The DSE Shariah Index (DSES) slumped 17.70 points or 1.36 per cent to finish at 1,274.78 points.
Turnover, the most important indicator of the market, also came down to BDT 11.37 billion, which was 10 per cent lower than the previous day’s BDT 12.70 billion.
The losers took a strong lead over the gainers as 327 issues traded, 275 closed lower, 47 closed higher and 5 remained unchanged on the DSE trading floor.
Beximco dominated the DSE turnover chart with about 17.70 million shares of BDT 575 million changing hands, followed by ACI, Islami Bank, Ratanpur Steel Re-rolling Mills and ACME Laboratories.
Anlimayarn Dyeing was the day’s highest gainer, posting 7.48 percent rise, while Shinepukur Ceramics was the worst loser, plunging by 9.45 per cent.
The port city bourse, the Chittagong Stock Exchange (CSE), also closed lower with its Selective Categories Index – CSCX –shedding 247.06 points to settle at 10,302.
Losers beat gainers as 219 issues closed lower, 38 closed higher and 6 remained unchanged on the CSE.
The port city bourse traded 24.72 million shares and mutual fund units’ worth BDT 681 million in turnover.