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Stocks tumble amid sluggish turnover

FE Online Report | Published: January 14, 2018 15:00:44 | Updated: January 16, 2018 10:47:15


Stocks plummeted Sunday with sluggish trading activities as investors were in the selling mood throughout the session, fearing a further fall.

Market operators said the market plunged as investors mostly refrained from injecting fresh funds into the market amid anticipation that the Bangladesh Bank (BB) could take measures in the upcoming monetary policy to curb credit growth.

The market started on a negative note, which continued till end of the session with no sign of reversal, and it finally ended more than 61 points lower.

DSEX, core index of Dhaka Stock Exchange (DSE), settled at 6,118, losing 61.42 points or 0.99 per cent over the previous session.

Two other indices of the premier bourse also ended lower.

Of those, DS30 index, comprising blue chips, fell 17.74 points or 0.78 per cent to finish at 2,242 and DSES (Shariah) 7.22 points or 0.52 per cent to close at 1,384.

The market activities also fell with the total turnover on DSE amounting to Tk 3.28 billion, which was 14 per cent lower than the previous day’s Tk 3.81 billion.

The losers took a strong lead over the gainers as out of 335 issues traded, 253 closed lower, 48 closed higher and 34 remained unchanged on the DSE trading floor.

Bangladesh Thai Aluminium topped the DSE turnover chart with 4.44 million shares worth Tk 139 million changing hands, followed by IFAD Autos, National Tubes, Keya Cosmetics and Square Pharmaceuticals.

Port city bourse CSE also closed lower with its CSE All Share Price Index – CAPSI- losing 183 points to close at 18,916 and elective Categories Index - CSCX – falling 112 points to close at 11,424 points.

Here too, the losers beat the gainers as 175 issues closed lower, 44 higher and 21 remained unchanged on the CSE.

The port city bourse traded 6.53 million shares and mutual fund units worth more than Tk 164 million in turnover.

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