Stocks plunged on Thursday, with the key index of the Dhaka Stock Exchange (DSE) falling below the ‘psychological’ threshold of 7,000 points mark after 13 trading days.
Following the previous day’s modest gain, the market went down steadily throughout the session as investors booked profit on major sector stocks.
DSEX, the core index of the DSE, slid 52.33 points or 0.74 per cent to settle at 6,991, after gaining 6.92 points in the previous session.
Two other indices also ended lower with the DSE 30 Index, comprising blue chips, plunging 24.75 points to finish at 2,573 and the DSE Shariah Index (DSES) lost 13.06 points to close at 1,508.
Turnover, a crucial indicator of the market, also declined to one-and-a half months low and amounted to Tk 1.0.04 billion on the country’s premier bourse, which was 17.23 per cent lower than the previous day’s tally of Tk 12.13 billion.
Market operators said heavy profit booking sell-offs in major sector stocks pulled the stocks down.
Many investors remained on the sidelines, looking for opportunities to take new positions in prospective companies ahead of the December-end declarations, they said.
Prices of more than 68 per cent traded issues closed in the red as out of 377 issues traded, 257 declined, 75 advanced and 45 remained unchanged on the DSE trading floor.
Bangladesh Export Import Company (Beximco) topped the turnover chart with shares worth Tk 1.04 billion changing hands, followed by Orion Pharma (Tk 649 million), Bangladesh Shipping Corporation (Tk 543 million), Fortune Shoes (Tk 213 million) and Yeakin Polymer (Tk 195 million).
GQ Ball Pen was the day’s top gainer, posting an 8.39 per cent gain while Central Pharma was the worst loser, losing 4.16 per cent.
The Chittagong Stock Exchange (CSE) also ended sharply lower with the CSE All Share Price Index – CASPI –losing 174 points to settle at 20,459 and the Selective Categories Index – CSCX shedding 103 points to close at 12,283.
Of the issues traded, 216 declined, 68 advanced and 32 issues remained unchanged on the CSE.
The port city’s bourse traded 12.19 million shares and mutual fund units with a turnover value worth about Tk 347 million.
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