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Stocks continue to see freefall; DSEX sheds record 133pts

FE Online Report | Published: February 04, 2018 15:29:42 | Updated: February 05, 2018 22:07:54


The core index of the Dhaka bourse on Sunday fell over 133 points, the biggest single-day fall in 55 months, as panicked investors went on selling spree amid uncertainty.

Afraid of further decline in stock prices, the small investors continued to helplessly witness freefall for the fourth consecutive day.

However, the fall was 32-month highest in terms of percentage as the Dhaka Stock Exchange (DSE) core index previously lost 98 points or 2.34 per cent on April 26, 2015.

Market operators said growing political tension coupled with fears of liquidity shortage due to the central bank’s latest directive to slash the limit of banks’ advance-deposit ratio (ADR) kept most of the investors at bay.

DSEX, the prime index of the DSE, plunged 2.21 per cent to settle at 5,888. It was the biggest single-day index fall in recent years since June 9, 2013 when DSEX slumped 145 points or 3.60 per cent.

Two other indices of the premier bourse also saw sharp decline. The DS30 index, comprising blue-chips, plunged 36 points or 1.63 per cent to finish at 2,191 and DSES (Shariah index) dropped by 20 points or 1.42 per cent to close at 1,377.

The losers took strong lead over the gainers as out of 336 issues traded, 302 closed lower, 23 higher and 11 remained unchanged on the DSE trading floor.

National Bank topped the turnover chart with shares worth Tk 172 million changing hands, followed by Lanka Bangla Finance, Square Pharmaceuticals, Beximco Pharma and Alif Industries.

Port city bourse CSE also closed lower with CSE All Share Price Index – CASPI - shedding 408 points to settle at 18,215 and Selective Categories Index - CSCX - falling 245 points to finish at 11,004.

The losers beat the gainers at CSE too as 196 issues closed lower, 13 ended higher and 12 remained unchanged.

The port city bourse traded 7.10 million shares and mutual fund units worth nearly Tk 166 million in turnover.

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