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Stocks plunge at opening on political tension

FE Online Report | Published: February 07, 2018 11:45:57 | Updated: February 08, 2018 12:01:34


Stocks on both bourses witnessed sharp decline in early hour of trading on Wednesday ahead of the verdict of Zia Orphanage Trust corruption case against BNP Chairperson Khaleda Zia.

A special court in Dhaka is set to deliver the verdict tomorrow (Thursday).

Following the previous day’s upward trend, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) witnessed downward trend in early trading amid low trading activities.

After first 15 minutes of trading, the key index of the country’s prime bourse fell more than 41 points while the CSE All Share Price Index (CAPSI) of port city’s bourse lost 30 points at 10:45am when the report was filed.

DSEX, the prime index of the DSE, went down by 41.61 points or 0.69 per cent to reach at 5,907 points at 10:45am.

The two other indices also saw downturn. The DS30 index, comprising blue chips, fell 16 points or 0.72 per cent to reach at 2,200.

The DSE Shariah Index (DSES) lost 8.0 points or 0.55 per cent to stand at 1,378 points till then.

Turnover, the important indicator of the market, stood at Tk 210 million when the report was filed at 10:45am.

Of the issues traded till then, 20 advanced, 153 declined and 23 remained unchanged.

Pharma Aids was the most traded stocks till then with shares worth Tk 30 million changing hands, closely followed by LankaBangla Finance Tk 26 million, City Bank Tk 12 million, Paramount Textile BDT 9.0 million and Usmania Glass BDT 8.0 million.

The port city bourse, the Chittagong Stock Exchange (CSE), also saw downward trend till then with CSE All Share Price Index- CAPSI- losing 30 points to stand at 18,345, also at 10:45am.

The Selective Category Index – CSCX –also lost 18 points to stand at 11,084 points till then.

Of the issues traded till then, 3 gained, 25 declined and 7 issues remained unchanged with BDT 6.0 million in turnover.

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