Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
The stock market witnessed yet another major setback on Thursday, with the key index of the Dhaka bourse sinking below 5,700-mark for the first time in three years, as jittery investors sold off major sector stocks.
Substantial price erosion of large-cap stocks dragged the Dhaka Stock Exchange (DSE) down by more than 77 points or 1.33 per cent to 5,686, the lowest in three years since May 2021.
The DSEX lost 178 points in the past four trading days after Eid holidays.
Most investors preferred to reduce their stock market exposure owing to concerns regarding the market outlook, while some remained on the sidelines amid prevailing volatility, market experts said.
The investors were rattled on the trading floor, being wary of the probable impact of the prevailing geopolitical crisis on the market’s momentum.
The blue-chip index DS30, a group of 30 prominent companies, also shed almost 23 points to 1984, while the DSES Index, which represents Shariah-based companies, lost 16 points to 1,246.
Turnover, a crucial indicator of the market, was Tk 5.23 billion, up from Tk 4.82 billion the day before.
More than 86 per cent traded shares saw price decline, as out of 395 issues traded, 342 declined, 29 advanced, and 24 remained unchanged on the DSE trading floor.
Newly listed Asiatic Laboratories dominated the turnover chart, with shares worth Tk 392 million changing hands, followed by Best Holdings, Lovello ice-cream, Alif Industries and Golden Son.
The Chittagong Stock Exchange ended sharply lower, with its All Shares Price Index (CASPI) shedding 215 points to 16,244 and the Selective Categories Index (CSCX) losing 131 points to 9,767.