Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
Stocks witnessed a major setback on Sunday as jittery investors dumped their holdings to avoid further erosion of their portfolios.
The prime index of the Dhaka Stock Exchange (DSE) decreased by 97.25 points, settling at 5,160.73, the lowest index in four months. On June 13, the DSEX was at 5,118.
Investors opted to trim their equity exposures and adopted a wait-and-see approach amid uncertainties surrounding earnings declarations for June-ending companies, according to market operators.
A series of strict regulatory measures, policy changes, and rising interest rates have dampened investor sentiment, contributing to the ongoing market plunge, said a leading broker who requested anonymity.
The blue-chip index DS30, representing 30 prominent companies, saw a decrease of 34.14 points, settling at 1,896.25, while the DSES Index, which represents Shariah-based companies, fell by 18.56 points to 1,155.57.
Turnover, a crucial market indicator, stood at Tk 3.62 billion, up 18.1 percent from the previous trading day.
The majority of stocks experienced price declines; out of 400 issues traded, 27 closed higher, 346 ended lower, and 27 remained unchanged on the DSE trading floor.
Taufika Foods and Lovello Ice-cream PLC was the most-traded stock, with shares worth Tk 345.44 million changing hands, followed by Midland Bank, BRAC Bank PLC, NRB Bank, and Standard Bank.
The Chittagong Stock Exchange (CSE) also ended down, with its All Share Price Index (CASPI) losing 271.53 points to settle at 14,550, while the Selective Categories Index (CSCX) fell by 162 points to settle at 88,514.
The port city bourse traded 2.55 million shares and mutual fund units, with a turnover volume of Tk 63.36 million.