Stocks witnessed yet another setback Monday, with the key index of the bourse dipping below 6,300-mark after two months, as jittery investors dumped their holdings.
The market saw a steep fall from the beginning of the session as investors, particularly small ones, for sell-off, plunging below the 6,300-mark instantly at the opening.
DSEX, the benchmark index of Dhaka Stock Exchange (DSE), slid 87.40 points or 1.38 per cent to settle at 6,217, lowest in almost two months since May 25, 2022.
DSEX shed over 150 points in the past five straight sessions.
Markey insiders said stocks plunged further as looming global economic uncertainties and the country’s macroeconomic cues weakened investors’ sentiment.
The government made some decisions Monday, including keeping diesel-run power plants shut, to reduce power generation costs, which also take a heavy toll on the struggling market, they said.
Turnover, the crucial indicator of the market, remained low and amounted to Tk 5.15 billion, which was 13 per cent lower than the previous day’s tally of Tk 5.93 billion.
Two other indices also ended lower. The DS30 Index lost 31.73 points to close at 2,236 the DSES Index plunged 16.61 points to finish at 1,359.
All the sectors faced selling pressures, leading to the share price erosion of nearly 94 per cent stocks. Out of 382 issues traded, 358 declined, 12 advanced and 12 unchanged.
Delta Life Insurance was the most-traded stock with shares worth Tk 357 million changing hands, followed by Beximco, Fortune Shoes, Grameenphone and Orion Infusions.
The Chittagong Stock Exchange (CSE) also ended sharply lower with the CSE All Share Price Index – CASPI –losing 248 points to settle at 18,275 and the Selective Categories Index – CSCX –shedding 149 points to close at 10,950.
Of the issues traded, 269 declined, 16 advanced and 12 issues remained unchanged on the CSE.
The port city’s bourse traded 6.05 million shares and mutual fund units with turnover value worth Tk 136 million.
