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The benchmark index of the Dhaka Stock Exchange (DSE) plummeted to nearly three months low on Wednesday as risk-averse investors went on selling binge on sector-specific issues.
DSEX, the prime index of the Dhaka Stock Exchange, went down by 30.37 points or 0.54 per cent to finish at 5,600. It was the lowest level of DSEX since January 03, 2019.
Market analysts said small investors were not confident enough to inject fresh fund in stocks while institutional investors mostly followed ‘wait-and-see’ approach ahead of dividend and earnings declarations of financial sector.
The market opened on positive note and the key index rose about 33 points within 15 minutes of trading. But, rest of the session went down steadily with no sign of reversal.
Two other indices also ended lower. The DS30 index, comprising blue chips, fell 9.10 points to finish at 2005 and the DSES (Shariah) index lost 3.21 points to settle at 1,289.
Turnover, another important indicator of the market, also fell to Tk 4.14 billion, which was 5.48 per cent lower than the previous day’s turnover of Tk 4.38 billion.
A total number of 104,239 trades were executed in the day’s trading session with trading volume of 78.61 million shares and mutual fund units.
The market-cap of the DSE also declined to Tk 4,163 billion, from Tk 4,177 billion in the previous day.
The losers took a strong lead over the gainers as out of 345 issues traded, 193 closed lower, 101 ended higher and 51 issues remained unchanged on the DSE trading floor.
BATBC topped the turnover list with shares worth Tk 199 million changing hands, closely followed by Brac Bank, Grameenphone, United Power and Square Pharmaceuticals.
Premier Cement was the day’s best performer, posting a gain of 7.34 per cent while Sonar Bangla Insurance was the day’s worst loser, losing 9.60 per cent.
The port city bourse, Chittagong Stock Exchange (CSE), ended lower with the CSE All Share Price Index – CASPI – shedding 42 points to settle at 17,166 while the Selective Categories Index – CSCX –losing 25 points to finish at 10,406.
Here too, the losers beat the gainers as 122 issues closed lower, 81 ended higher and 28 remained unchanged.
The CSE traded 4.18 million shares and mutual fund units worth Tk 114 million in turnover.