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Stocks witnessed the biggest single-day fall in 17 months on Sunday as worried investors continued their selling spree, feraing further fall.
DSEX, the prime index of the DSE, settled at 5,033, plunging by 96.95 points or 1.88 per cent. It was the biggest single-day index fall in more than 17 months since February 15, 2018.
After the Sunday’s decline, the DSEX also fell to 31 months low since December 28, 2016, when DSEX was 5,027.
Brokers said the market continued bleeding as panic gripped the investors that the market would fell further.
The government’s move to liquidate People’s Leasing, Grameenphone woes coupled with the gas price hike dented investors’ confidence to the market, said an anlsyst.
Meanwhile, a group of retail investors, tried to stage demonstration in front of the DSE building protesting the contitious fall, but police foiled theira attempt.
Two other indices also declined sharply. The DS30 index, comprising blue chips, lost 30 points to finish at 1,799 and the DSE Shariah Index slumped 18.64 points to close at 1,157.
Turnover, another important indicator of the market, stood at Tk 3.68 billion, which was 7.0 per cent lower than the previous day’s turnover of Tk 3.95 billion.
The losers took a strong lead over the gainers as out of 352 issues traded, 273 closed lower, 61 advanced and 18 issues remained unchanged on the DSE trading floor.
Fortune Shoes topped the turnover chart with 4.96 million shares worth Tk 200 million changing hands.
The other turnover leaders were United Power, Federal Insurance, JMI Syringes and Beximco.
A total number of 114,047 trades were executed in the day’s trading session with trading volume of 148.61 million securities.
The market capitalisation of the DSE also came down to Tk 3,773 billion on Sunday, from Tk 3,822 billion in the previous session.
Vangourd AML Rupali Bank Balanced Fund was the day’s best performer, posting a gain of 10 per cent while Aziz Pipes was the worst loser, losing 9.97 per cent.
The port city bourse, Chittagong Stock Exchange, also saw sharp fall with its CSE All Share Price Index – CASPI –slumping by 309 points to settle at 15,415 and the Selective Categories Index - CSCX –losing 185 points to finish at 9,373.
Here too, the losers beat gainers, as 231 issues closed lower, 42 ended higher and 11 remained unchanged on the CSE trading floor.
The port city bourse traded 7.92 million shares and mutual fund units worth Tk 171 million in turnover.