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The Financial Express

DSEX slumps below 4,500-mark Thursday

FE Online Report | Published: February 27, 2020 16:40:59 | Updated: February 27, 2020 18:39:39


DSEX slumps below 4,500-mark Thursday

The prime index of the Dhaka bourse fell below 4,500-mark Thursday as worried investors continued to dump their holdings amid concern on the possible impact of the single-digit interest rate on the banking business.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 68.88 points or 1.51 per cent to settle at 4,480.

The core index eroded 278 points in the six consecutive sessions.

Market analysts said the investor kept their selling binge on major stocks fearing possible impact of the single-digit interest rate on the banking business as well as overall economy.

Two other indices also ended lower. The DS30 index, comprising blue chips, fell 25.33 points to close at 1,492 and the DSES (Shariah) index lost 15.41points to settle at 1,044.

Turnover, an important indicator of the market, stood at Tk 5.61 billion on the country’s premier bourse, falling 10.5 per cent over the previous day’s turnover of Tk 6.27 billion.

Losers took a strong lead over the gainers, as out of 356 issues traded, 250 closed lower, 60 ended higher and 46 remained unchanged on the DSE trading floor.

A total number of 145,319 trades were executed in the day’s trading session with trading volume of 215.21 million shares and mutual fund units.

The market-cap of the DSE also fell to Tk 3,429 billion, from Tk 3,484 billion in the previous session.

Brac Bank topped the turnover chart with shares worth Tk 308 million changing hands, closely followed by VFS Thread Dyeing, Central Pharma, Silva Pharma and Indo-Bangla Pharma.

Central Pharma was also the day’s best performer, posting a gain of 9.52 per cent while Standard Ceramic was the worst loser, losing 8.74 per cent.

The Chittagong Stock Exchange also kept the losing with its All Shares Price Index (CASPI)—slumping by 198 points to close at 13,742 and the Selective Categories Index - CSCX –losing 122 points to finish at 8,332.

Here too, the losers beat gainers, as 162 issues closed lower, 53 ended higher and 24 remained unchanged on the CSE.

The port city bourse traded 10.85 million shares and mutual fund units worth Tk 194 million in turnover.

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