Stocks witnessed a sharp decline in the first hour of trading on Monday, maintaining the previous day’s steep fall, as panicked investors went on selling spree.
Merchant bankers and stockbrokers alleged that a ‘political rumour’ spread by a vested quarter created panic among the stock investors, prompting them to go for disposing of shares.
Following the previous day’s four-and-a-half year’s biggest fall, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) started the day with a steep decline.
Within first 15 minutes of trading, the key index of the country’s prime bourse fell more than 117 points while the CSE All Share Price Index (CAPSI) of the port city’s bourse slumped 217 points at 10:55am when the report was filed.
DSEX, the prime index of the DSE, went down by 116 points or 1.98 per cent to reach 5,771 points at 10:55am.
Two other indexes of the premier bourse also saw a downturn till then.
Of those, DS30, comprising blue chips also fell 40 points or 1.83 per cent to reach 2,151 points, and DSES (Shariah) lost 24 points or 1.74 percent to stand at 1,353 points till then.
Turnover, an important indicator of the market, stood at Tk 594 million when the report was filed at 10:55am.
Of the issues traded till then, 10 advanced, 247 declined and 18 remained unchanged.
Brac Bank was the most traded stocks till then with shares worth BDT 41 million changing hands, closely followed by Monno Ceramic, LankaBangla Finance, GP and BBS cables.
Port city bourse CSE also saw a big fall till then with its All Share Price Index, CAPSI, losing 217 points to stand at 18,00 and Selective Category Index, CSCX, losing 133 points to stand at 10,872 points till 10:55am.
Of the issues traded till then, 8 gained, 90 declined and 6 issues remained unchanged with Tk 28 million in turnover.