Stocks plunge amid thin turnover

Stocks dipped on Sunday with key index of the major bourse lost over two per cent as investors went for massive sales, fearing further fall. DSEX, the prime index of the Dhaka Stock Exchange (DSE) shed 109.08 points or 2.06 per cent to close at 5.176.75 points. The other two indices also saw steep decline. The DS30, comprising blue chips shed 43.64 points or 2.18 per cent to close at 1,954.14 points. The DSE Shariah Index went down by 24.94 points or 2.00 per cent to close at 1,217.51 points. The total turnover on DSE came down to one-month low to Tk 6.87 billion, which was 15.60 per cent lower over the previous session’s value of Tk 8.14 billion. The losers took a lead over the gainers as out of 302 issues traded, 233 declined, 54 advanced and 15 remained unchanged on the DSE floor. Jamuna Oil was the most traded stock with shares worth Tk 366.90 million changing hands followed by Square Pharma, Titas Gas, MJL BD and GP. Popular Life Insurance was the day’s highest gainer, posting a rise of 8.05 cent following its dividend declaration while EBL NRB Mutual Fund was the day’s worst loser, slumping by 9.33 per cent. The port city bourse, Chittagong Stock Exchange (CSE) also saw sharp decline with its Selective Categories Index – CSCX – lost 194.51 points to close at 9,717.42 points. Losers beat gainers 195 to 26, with 8 issues remaining unchanged at the port city bourse that traded 12.47 million shares and mutual fund units with turnover value of Tk 454.02 million.