Dhaka, Bangladesh (BBN) – Bangladesh’s stocks witnessed sharp fall on Sunday, the first day of this week, following poor participation in share trading activities by the investors.
All the sectors of the listed securities went through corrections as the broad index of Dhaka Stock Exchange (DSE) settled below 5,800-point mark.
At the end of the session, the DSEX closed at 5,773.36 points with a loss of 0.93 per cent or 54.62 points.
The shariah based index DSES declined 0.67 per cent or 9.21 points to close at 1,363.78 points, while blue chip index DS30 closed at 2,126.17 points with a loss of 0.82 per cent or 17.64 points.
Besides, the turnover value also hit 20-month low on the DSE mainly because of selling-pressure observed on major sectors such as bank, engineering, financial institutions and pharmaceuticals and chemicals.
The market started the session negatively and the declining trend continued till the closure. The DSE broad index DSEX witnessed no recovery throughout the whole session.
Of total number of issues traded, 53 advanced, 246 declined and 31 were unchanged on the DSE.
The turnover value stood at above BDT 2.36 billion which was 13.58 per cent less than that of the previous session.
Earlier on July 10, 2016, the DSE featured a turnover of more than BDT 2.09 billion. The turnover featured on Sunday the lowest value during a period from July 11, 2016 to March 11, 2018.
The market turnover scored record low in last 20 months as investors lack confidence in a macroeconomic scenario, where upward pressure on interest rate is still persistent, EBL Securities said.
Of the declining sectors, bank lost 1.4 per cent, engineering 1.4 per cent, financial institutions 0.9 per cent, pharmaceuticals & chemicals 0.2 per cent, telecommunication 0.8 per cent and textile 1.0 per cent.
The lists of top gainers and losers were dominated by small cap stocks whereas turnover list was dominated by large cap stocks.
Monno Ceramic topped the scrip-wise turnover chart with a value of Tk 112 million, followed by CVO Petrochemical Refinery, Beximco Pharmaceuticals and LankaBangla Finance.
Asia Pacific General Insurance Company was the number one gainer with a rise of 9.09 per cent to close at Tk 25.20 each, while LankaBangla Finance was the worst loser after declining 9.77 per cent to close at Tk 31.40 each.
On the other hand, all indices also declined on the Chittagong Exchange (CSE) on Sunday. The benchmark index CASPI lost 124 points.
Of 221 issues traded, 37 advanced, 163 declined and 21 were unchanged and the turnover stood at above BDT 120.41 million on the port city bourse.