Stocks tumbled on Sunday, after a single-day break, with the benchmark index of the Dhaka Stock Exchange (DSEX) tumbled to more than two months low amid late hours selling binge.
The market started on a positive note and the key index rose about 44 points within the first 30 minutes of trading. But failed to sustain that level amid heavy sell-offs by shaky investors’ later part of the session.
Finally, DSEX, the prime index of the DSE, went down by 50.84 points or 0.73 per cent to settle at 6,855, which is the lowest in more than two months since August 29.
Two other indices also fell with the DSE 30 Index, comprising blue chips, dropping 2.31 points to finish at 2,598 and the DSE Shariah Index (DSES) plunged 17.86 points to close at 1,444.
Turnover, a crucial indicator of the market, stood at Tk 11.45 billion, which was 7.20 per cent higher than the previous day’s six months lowest turnover of Tk 10.68 billion.
Analysts said the market was under sale pressure as retail investors continued to cash in on stocks while institutional investors did not exhibit much exuberance amid ongoing volatility.
Many investors remained on the sidelines amid a lack of clear market direction while the ongoing countrywide transport strike prompted them to sell shares, they said.
More than 80 per cent traded issues lost their price, as out of 377 issues traded, 303 ended lower, 49 higher and 25 remained unchanged on the DSE trading floor.
Beximco was the most traded stock with shares worth Tk 2.22 billion changing hands, followed by NRB Commercial Bank (Tk 835 million), Alif Manufacturing Company (Tk 441 million), Fortune Shoes (Tk 359 million), and Orion Pharma (Tk 346 million).
Sena Kalyan Insurance, which made its shares trading debut today, was the day’s top gainer, rising 10 per cent while Tung Hai Knitting & Dyeing was the worst lower, losing 8.06 per cent.
The Chittagong Stock Exchange (CSE) also ended lower with the CSE All Share Price Index – CASPI –losing 119 points to settle at 20,078 and the Selective Categories Index – CSCX, shedding 70 points to close at 12,061.
Of the issues traded, 207 declined, 64 advanced and 17 remained unchanged on the CSE.
The port city’s bourse traded 9.49 million shares and mutual fund units with a turnover value of Tk 271 million.
