Stocks decline further

Staff Correspondent

1 April, 2021 12:00 AM printer

Stocks plunged further on Wednesday as panic-driven investors dumped their holdings amid fears of a fresh wave of the coronavirus.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), dropped by 94.96 points or 1.77 per cent to settle at 5,278.

Two other indices also ended lower with the DSE 30 Index, comprising blue chips, eroded 42.23 points or 2.07 per cent to finish at 1,994 and the DSE Shariah Index (DSES) plunged 16.91 points or 1.38 per cent to close at 1,204.

Turnover, a crucial indicator of the market, fell to below Tk 6.0 billion-mark and amounted to Tk 5.60 billion, which was 11.72 per cent lower over the previous day’s turnover of Tk 6.35 billion.

Out of 348 issues traded, 257 declined, 11 advanced and 80 issues remained unchanged on the DSE trading floor.

A total number of 121,642 trades were executed in the day’s trading session with a trading volume of 155.05 million shares and mutual fund units.

Beximco - the flagship company of Beximco Group- was the most-traded stock with shares worth about Tk 890 million changing hands, followed by Beximco Pharma, Robi, LankaBangla Finance and Square Pharmaceuticals.

Desh General Insurance Company Limited was the day’s top gainer, posting a gain of 50 per cent while Jute Spinners Limited was the worst loser, losing 9.08 per cent.

The Chittagong Stock Exchange (CSE) also ended sharply lower with the CSE All Share Price Index – CASPI –losing 301 points to settle at 15,264 and the Selective Categories Index – CSCX shedding 181 points to close at 9,208.

Of the issues traded, 169 declined, 15 advanced and 45 remained unchanged on the CSE.

The port city’s bourse traded 16.79 million shares and mutual fund units with turnover value of Tk 369 million.