Stocks continue to slide as DSE, CSE start week with sharp losses

Bangladesh’s two stock exchanges opened the week with a steep fall on Sunday, as indices plunged in both markets and share prices declined for the majority of listed companies.

The benchmark index of the Dhaka Stock Exchange (DSE), DSEX, dropped by 231 points during the day’s trading. The Shariah-based DSES index fell by 35 points while the blue-chip DS30 index declined by 90 points.

Most listed companies ended in the red: prices fell for 371 firms, while only 10 gained and nine remained unchanged.

Although turnover slightly increased, selling pressure dominated the market. A total of shares and units worth Tk 5.31 billion were traded on the DSE, up from Tk 4.59 billion in the previous session.

In the block market, shares worth Tk 23 crore from 30 companies were traded, with Asiatic Laboratories Limited topping the list with transactions worth about Tk 40 million.

City Insurance Company Limited led the gainers’ chart on the DSE with a 5 per cent rise in share price, while Alif Manufacturing Company Limited was the worst loser, shedding 10 per cent.

The Chittagong Stock Exchange (CSE) also witnessed a sharp decline as its overall index CASPI dropped by 419 points.

Prices fell for 145 companies against 17 gainers, while two remained unchanged on the CSE.

Turnover on the port city bourse fell sharply to about Tk 160 million, compared with Tk 410 million in the previous trading session.

Prime Bank 1st ICB AMCL Mutual Fund topped the gainers’ list on the CSE with a 10 per cent rise, while Familytex (BD) Limited was the worst loser, losing 10 per cent of its value.