Stocks see sharp decline

Stocks dipped sharply on Sunday, the opening day of the week, with turnover came down below Tk 4.0 billion mark once again as investors went for selling spree.The market started with a negative note and the downward trend continued till the market closure, eventually, DSEX, the prime index of the Dhaka Stock Exchange (DSE) ended at 4,504.77 points, shedding 62.08 points or 1.35 per cent. The other two indices also saw sharp decline. The DS30, comprising blue chips lost 25.70 points or 1.53 per cent to close at 1,646.22 points. The DSE Shariah Index (DSES) also dropped 12.12 points or 1.19 per cent to close at 1,006.07 points. The total turnover value came down below Tk 4.0 billion mark once again and amounted to Tk 3.30 billion on the DSE which was 24.31 per cent lower compared to previous session’s value of Tk 4.36 billion. The losers took a strong lead over the gainers as out of 284 issues traded, 180 decline, 84 advanced and 20 issues closed unchanged on the DSE floor. Meghna Petroleum became the top turnover leader with shares worth Tk 175.83 million changing hands followed by GP, Heidelberg Cement, Olympic Industries and Golden Son. Legacy Footwear Limited was the day’s highest gainer; posting a rise of 15.96 per cent following its dividend declaration while Ibn Sina was the day’s worst losers, slumping by 13.26 per cent following its price adjustment after record date. The port city bourse - Chittagong Stock Exchange (CSE) witnessed sharp decline with its Selective Categories Index --- CSCX lost 116.21 points to stand at 8,654.83 points. Losers beat gainers 134 to 61, with 12 issues remaining unchanged at the port city bourse that traded 6.60 million shares and mutual fund units, valued at Tk 233.13 million.