SAM

Published:
2019-12-09 17:34:11 BdST

Stocks dip further amid dull trading


FT ONLINE

Stocks plunged further on Monday as worried investors continued their selling binge on major sectors issues amid growing concern over the country’s overall economic situation.

The market opened on a downward note and the downturn continued until the end of the session as prolonged bearish vibe kept investors mostly cautious.

DSEX, the prime index of the Dhaka Stock Exchange, went down by 62.25 points or 1.35 percent to close at nearly 40 months low at 4,533 since August 31, 2016.

Market analysts said growing concern over the country’s overall economy coupled with recent market volatility, rising non-performing loans and liquidity crunch continued to dent investors’ confidence.

Two other indices also ended lower. The DS30 index, comprising blue chips, lost 21.54 points to finish at 1,561 and the DSE Shariah Index plunged 19 points to close at 1,022.

Turnover, a crucial indicator of the market, also fell and amounted to Tk 2.75 billion, which was 21 percent lower than the previous day’s turnover of Tk 3.49 billion.

Losers took a strong lead over the gainers as out of 353 issues traded, 233 closed lower, 67 ended higher and 53 remained unchanged on the DSE trading floor.

A total number of 101,917 trades were executed in the day’s trading session with a trading volume of 104 million shares and mutual fund units.

The market-cap of the DSE also slumped to Tk 3,446 billion on Monday, from Tk 3,482 billion in the previous session.

Square Pharma topped the turnover chart with shares worth Tk 89 million changing hands, closely followed by Sinobangla Industries, Sonar Bangla Insurance, Daffodil Computers, BATBC and National Tubes.

New Line Clothings was the day’s best performer, posting a gain of 8.91 percent while Daffodil Computers was the worst loser, losing 8.37 percent.

The port city’s bourse, the Chittagong Stock Exchange, also saw a sharp decline with its All Shares Price Index (CASPI)—losing 151 points to close at 13,828 and the Selective Categories Index - CSCX –shedding 93 points to finish at 8,391.

Here too, the losers beat gainers, as 148 issues closed lower, 60 ended higher and 29 remained unchanged on the CSE.

The port city bourse traded 5.24 million shares and mutual fund units worth Tk 147 million in turnover.

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