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DSEX hits three-year low amid panic sale

It sheds 176 points in last five sessions


FE Report | October 14, 2019 00:00:00


The Dhaka Stock Exchange (DSE) continued experiencing extensive loss, and its broad index - DSEX - dropped to three-year low following investors' panic-driven sale of shares on Sunday.

Following the investors' poor participation, the turnover value on the major bourse also came down below Tk 3.0 billion.

The market intermediaries said the ongoing miserable outlook of the market made the investors worried. So, their participation in share trading declined significantly.

On Sunday, only pharmaceuticals and chemicals and jute sectors witnessed price appreciation.

The remaining 18 sectors, including the major ones, witnessed moderate correction, leaving impact on index and turnover.

At the end of the session, DSEX declined 1.0 per cent or 48.34 points, and settled at 4,761.87, which was the lowest mark since November 22, 2016.

DSEX lost 176 points in last five consecutive sessions, as many investors sold their shares amid selling pressure, while many others refrained from injecting fresh funds amid continuous price correction.

The market intermediaries said stocks of almost all the sectors, especially telecom, engineering, financial institutions, textile, bank, and fuel & power, contributed notably to the index correction.

Of the large-cap companies having major impact on index movement, the share price of Grameenphone declined 2.10 per cent on Sunday.

On the day, the shariah-based index - DSES - and DS30 index, comprising blue chip securities, also declined marginally.

Out of the 345 issues traded on the premier bourse, only 41 advanced, 267 declined, and 37 remained unchanged.

On Sunday, the DSE featured a turnover of above Tk 2.98 billion, which was the lowest value since July 16.

The top-ten traded stocks captured around 38.6 per cent of the market turnover, where National Tubes solely contributed 8.5 per cent to the turnover.

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