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Stocks tumbled in early trading on Sunday, as jittery investors continued to sell off their holdings in an attempt to avoid further losses, despite regulatory efforts to stabilise the market.
The relentless bearish spell remains dominant in the market as investors found no immediate solution to the prevailing dismal market outlook.
Right from the start of the trading session, the scared investors began to dump their holdings, causing the market indices to face a massive drop after the first one and a half hours of trading.
DSEX, the key index of the Dhaka Stock Exchange (DSE), went down by more than 40 points, or 0.80 per cent, to 4,932 after one and a half hours of trading at 11:30 am.
Market experts said the investors had been suffering from a severe confidence crisis for a long time amid a depressed market outlook.
Due to the continuous market decline, many margin accounts came under forced sale, which exacerbated the index plunge.
The DS30 index, a group of 30 prominent companies, shed 18 points to 1,826, while the DSES index, which represents Shariah-based companies, lost 15 points to 1,089 by then.
Turnover, another important indicator of the market, remained low and amounted to Tk 1.07 billion by then.
Of the issues traded by then, 240 declined, 86 advanced, and 62 issues remained unchanged on the DSE trading floor.
Beach Hatchery was the most traded stock, with shares worth Tk 100 million changing hands by then.
The Chittagong Stock Exchange (CSE) also saw a sharp fall, with its All Shares Price Index (CASPI) losing 116 points to 13,840, while the Selective Categories Index (CSCX) lost 75 points to 8,450 by then.
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