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The key index of the Dhaka Stock Exchange (DSE) dropped more than 100 points on Sunday.
The DSEX dropped as worried investors dumped their holdings ahead of the strict lockdown due to the increasing trend of coronavirus infections.
The market fell sharply at the opening and continued the downward trend till the end of the session.
The prime index of the Dhaka Stock Exchange (DSE) plunged 100.10 points or 1.64 per cent to settle at 5,992. DSEX dipped below the 6000-mark after three weeks.
The government has announced to enforce the lockdown from July 1 (Thursday) instead of Monday (June 28) due to June closing.
Market analysts said the pandemic situation is deteriorating as the Covid-19 cases are rising alarmingly every day in the country. It took a heavy toll on the stock market.
Meanwhile, trading at the stock market will continue if banking activities remain operational, the securities regulator said.
The daily trade turnover stood at Tk 17.40 billion on the DSE, which was 9.0 per cent higher than the previous day’s one month’s lowest turnover of Tk 15.97 billion.
Two other indices also fell sharply with the DSE 30 Index, comprising blue chips, lost 30.88 points to finish at 2,168 and the DSE Shariah Index (DSES) shed 14.43 points to close at 1,287.
Losers took a strong lead over the gainers, as out of 372 issues traded, 306 declined, 54 advanced and 12 remained unchanged on the DSE trading floor.
Beximco - the flagship company of Beximco Group- dominated the turnover chart with shares worth about Tk 1.03 billion changing hands, closely followed by Dutch-Bangla Bank (Tk 389 million), Malek Spinning Mills (Tk 384 million), Kattali Textile (Tk 378 million) and Makson Spinning Mills (Tk 358 million).
Matin Spinning Mills was the day’s top gainer, rising 9.83 per cent, while Republic Insurance was the worst loser, shedding 12.06 per cent following its price adjustment after the record date.
A total of 275,884 trades were executed in the day’s trading session with a trading volume of 595.65 million shares and mutual fund units.
The market cap of DSE also fell to Tk 5,042 billion on Sunday, down from Tk 5,106 billion in the previous session.
The Chittagong Stock Exchange (CSE) also plunged, with the CSE All Share Price Index (CASPI) slumping by 297 points to settle at 17,359 and the Selective Categories Index (CSCX) plunging by 181 points to close at 10,441.
Of the issues traded, 241 declined, 58 advanced and 12 remained unchanged on the CSE.
The port city’s bourse traded 49.34 million shares and mutual fund units with a turnover value of Tk 2.14 billion.