Bangladesh
3 months ago

DSEX sinks below 5,800-mark after three-year

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The prime index of the Dhaka Stock Exchange (DSE) tumbled below 5,800-mark on Wednesday after nearly three years, as jittery investors continued to dump their holdings, fearing further fall.

Following the previous two days’ slump, the market opened on a positive note for a short time and failed to sustain amid panic-driven sell-offs.

DSEX, the key index of the DSE, finally slid almost 72 points or 1.23 per cent to settle at 5,762. DSEX lost roughly 180 points in the past three consecutive sessions.

The DSE market cap shed Tk 133 billion in just three trading days to Tk 6,792 billion on Wednesday.

Market insiders said the prolonged bearish trend frustrated general investors, while pre-Eid sale pressure coupled with forced selling on marginable securities intensified the index fall.

Two other indices also ended lower. The DSE 30 Index, comprising blue chips, plunged nearly 13 points to finish at 2,012 and the DSE Shariah Index (DSES) shed 15 points to 1,252.

Turnover, a crucial indicator of the market, stood at Tk 5.39 billion on the country’s premier bourse, rising 21 per cent over the previous day’s mark of Tk 4.46 billion.

Central Pharma became the most traded shares, with shares worth Tk 327 million changing hands, followed by Asiatic Laboratories, Alif Industries, Fu-Wang Ceramic and Best Holdings.

Central Pharma was also the day’s top gainer, posting a 6.14 per cent rise while IPDC Finance was the worst loser, losing 9.26 per cent.

The Chittagong Stock Exchange also kept losing with its All Shares Price Index (CASPI) shedding 124 points to 16,580 and the Selective Categories Index (CSCX) losing 72 points to 9,956.

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