Stocks witnessed sharp fall in early hours of trading on Monday as investors went on selling spree amid lack of confidence in the market.
Market analysts said the investors who have already been grappling with several issues such as penalty tax on listed firms, Grameephone woes, and gas price hike got panicked by the news of liquidation and trading suspension of People’s Leasing and Financial Services (PLFS).
Following the previous day’s steep decline, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened on downturn amid panic sell-offs.
Within first 15 minutes of trading, the key index of the country’s prime bourse fell 15 points while the CSE All Share Price Index (CASPI) of port city’s bourse lost 40 points at 10:45am.
After 30 minutes of trading, the DSEX fell more than 43 point while the CSE All Share Price Index (CASPI) of port city’s bourse shed 63 points at 11:00am when the report was filed.
DSEX, the prime index of the DSE, went down by 43.46 points or 0.83 per cent to stand 5,136 points at 11:00am.
The DS30 index, comprising blue chips, also fell 19.71 points to reach at 1,833 points till then. The DSE Shariah Index lost 11.81 points to stand at 1,178 points.
Turnover, the important indicator of the market, stood at Tk 401 million on DSE when the report was filed at 11:00am.
Fortune Shoes was the most traded stocks till then with shares worth Tk 25 million changing hands, closely followed by GP, Monno Ceramic, JMI Syringes and Singer Bangladesh.
Of the issues traded till then, 46 advanced, 221 declined and 31 remained unchanged on the DSE trading floor.
The port city’s bourse – the Chittagong Stock Exchange – (CSE) also saw sharp fall till then with CSE All Share Price Index- CASPI-shedding 63 points to stand at 15,817 points, also at 11:00am.
The Selective Category Index – CSCX –also fell 43 points to stand at 9,601 points till then.
Of the issues traded till then, 14 advanced, 49 declined 09 issues remained unchanged with Tk 12 million in turnover.