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The stock market plunged in early trading on Tuesday, as jittery investors are dumping their holding of large-cap stocks owing to the prevailing dismal outlook of the market.
Large-cap stocks such as Renata, Robi, Walton, ICB, Beacon Pharma, Grameenphone and Brac Bank saw their price correction in early trading.
Following the previous day’s major fall, the market started with a downward trend and the key index of the Dhaka Stock Exchange went down by 47 points to 5,714 after two hours of trading at 11:30am, when the report was filed.
The DSE 30 index, comprising blue chips, also plunged more than 14 points to 1,993 and the DSE Shariah Index (DSES) shed 11 points to 1,240 till then.
Turnover also stood at Tk 1.58 billion after two hours of trading.
Of the issues traded till then, 294 declined, 43 advanced and 42 remained unchanged on the DSE trading floor.
Central Pharma was the most-traded stocks till then with shares worth Tk 119 million changing, followed by Shinepukur Ceramic, Emerald Oil, Malek Spinning Mills and Asiatic Lab.
The Chittagong Stock Exchange (CSE) opened lower with the CSE All Share Price Index – CASPI – losing 102 points to 16,409 at 11:30 am.