Dhaka, Bangladesh (BBN)– Bangladesh’s stocks maintained the downward trend at midday on Wednesday as cautious investors continued their selling spree following the news of slashing the limit of advance-deposit ratio (ADR).
The Bangladesh Bank (BB) slashed the limit of advance-deposit ratio (ADR) on Tuesday to help check any possible liquidity pressure on the market due to the banks’ ‘aggressive’ lending.
The ADR is re-fixed at 83.50 percent for all the conventional banks and at 89 percent for the Shariah-based Islamic banks. The existing ratios are 85 per cent and 90 percent respectively. The banks must adjust it gradually by June 30.
Following the previous day’s downturn, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened downward trend amid low trading activities.
Within first 15 minutes of trading, the key index of the country’s prime bourse fell more than 41 points while the CSE All Share Price Index (CAPSI) of port city’s bourse lost 53 points at 10:45am.
After 30 minutes of trading, the key index of the DSE plunged more than 48 points while the CSE All Share Price Index (CAPSI) shed 78 points at 11:00am.
After 90 minutes of trading, DSEX went down by 79 points while the CSE All Shares Price Index lost 204 points at 12:0noon when the report was filed.
DHAKA STOCK EXCHANGE
DSEX, the prime index of the DSE stands at 6,048 points, losing 79.33 points or 1.29 percent at 12:00 noon.
The other indices also saw downturn trend till then. The DS30 index, comprising blue chips fell 32.39 points or 1.42 percent to reach at 2,235 points.
The DSE Shariah Index (DSES) also lost 20.33 points or 1.43 percent to reach at 1,394 points.
Turnover, the crucial indicator of the market, stands at BDT 1.75 billion, when the report was filed at 12:00 noon.
LankaBangla Finance was the most traded stocks till then with shares worth BDT 133 million changing hands, followed by Grameemphone BDT 102 million, Pharma Aids BDT 75 million, Square Pharmaceuticals BDT 60 million and Paramount Textile BDT 51 million.
Of the issues traded till then, 28 advanced, 255 declined and 55 issues remained unchanged on the DSE trading floor.
CHITTAGONG STOCK EXCHANGE
The port city bourse – the Chittagong Stock Exchange – (CSE) also saw downturn till then with CSE All Shares Price Index of port city’s bourse – shedding 204 points to stand at 18,751 points, also at 12:00 noon.
The Selective Categories Index of the port city bourse also lost 123 points to reach at 11,326 points till then.
Of the issues traded till then, 21 gained, 125 declined and 14 issues remained unchanged with BDT 67 million in turnover.