Stock markets see steep fall

Stocks on both bourses witnessed a steep decline in the first hour of trading on Sunday as investors are on selling spree, fearing a further fall.

Following the previous week’s one of the largest weekly fall in two years, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) saw a sharp decline at opening amid thin participation of investors on the trading floor.

Within first 15 minutes of trading, the key index of the country’s prime bourse fell more than 28 points while the CSE All Share Price Index (CAPSI) of the port city’s bourse lost 25 points at 10:45am.

After 30 minutes of trading, the DSEX plunged more than 53 points while the CSE All Share Price Index (CAPSI) of the port city’s bourse lost 85 points at 11:00am, when the report was filed.

DSEX, prime index of the DSE, went down by 53.64 points or 0.89 per cent to come down below the 6,000-mark to reach at 5,968 points at 11:00am.

Two other indexes of the premier bourse also saw a steep decline till then.

Of those, DS30, comprising blue chips, fell 19 points or 0.86 per cent to reach 2,208 points and DSES (Shariah) lost 7.78 points or 0.56 per cent to stand at 1,389 points till then.

Turnover, an important indicator of the market, stood at only Tk 432 million when the report was filed at 11:00am.

Of the issues traded till then, 40 advanced, 179 declined and 31 remained unchanged.

Monno Ceramic Industries was the most traded stocks till then with shares worth Tk 33 million changing hands, followed by Alif Industries Tk 29 million, LankaBangla Finance Tk 23 million, National Tubes Tk 15 million and GSP Finance Tk 14 million.

Port city bourse CSE saw a sharp decline till then with CSE All Share Price Index- CAPSI- losing 85 points to stand at 18,538, also at 11:00am.

The Selective Category Index – CSCX –also lost 54 points to stand at 11,196 points till then.

Of the issues traded till then, 15 gained, 58 declined and 3 issues remained unchanged with Tk 14 million in turnover.

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