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DSEX slumps below 4900-mark after 33 months

FE Online Report | Published: September 18, 2019 15:47:07 | Updated: September 19, 2019 12:29:57


The prime index of the Dhaka Stock Exchange slumped below 4,900-mark after more than 33 months, as jittery investors continued to dump their holdings to prevent further loss.

DSEX, the prime index of the DSE, eroded 40.96 points or 0.83 per cent to settle at more than 33-months low at 4,888. On December 12, 2016, the index was 4,869.

Market analysts said investors were selling off shares fearing further decline as they found no immediate solution to the ongoing ailing market in the finance minister’s meeting held on Monday.

Lack of investors’ confidence, telecom regulator’s strict stance towards GP coupled banking scam news continued to hunt investors’ sentiment, said a leading broker.

Two other indices also ended lower. The DS30 index, comprising blue chips, fell 15.96 points to finish at 1,735 and the DSE Shariah Index lost 16.34 points to close at 1,130.

Turnover, a crucial indicator of the market, also fell to Tk 3.71 billion, which was 15 per cent lower than the previous day’s Tk 4.35 billion.

Losers took a strong lead over the gainers as out of 352 issues traded, 214 closed lower, 97 ended higher and 41 remained unchanged on the DSE trading floor.

A total number of 118,681 trades were executed in the day’s trading session with trading volume of 97.68 million shares and mutual fund units.

The market-cap of the DSE also fell to Tk 3,684 billion on Wednesday, from Tk 3,710 billion in the previous session.

National Tubes topped the turnover chart with shares worth nearly Tk 201 million changing hands, followed by Monno Jute Stafflers, Square Pharma, Sinobangla Industries and Legacy Footwear.

The insurance issues dominated the day’s gainer chart with Global Insurance was the day’s best performer, posting a gain of 9.86 per cent while Monno Ceramic Industries was the day’s worst loser, plunging by 9.05 per cent.

The port city’s bourse, the Chittagong Stock Exchange, also ended lower with its All Shares Price Index (CAPSI) -- CASPI-- losing 102 points to close at 14,848 and the Selective Categories Index - CSCX – shedding 62 points to finish at 9,014.

Here too, losers beat the gainers as 162 issues closed lower, 67 higher and 33 remained unchanged on the CSE.

The port city bourse traded 9.02 million shares and mutual fund units worth nearly Tk 357 million in turnover.

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