DSEX dips below 6,800-mark again

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DSE, CSE open positive amid low turnover
DSE, CSE open positive amid low turnover

DSEX dips below 6,800-mark again
Stocks nosedived further on Monday with the prime index of the Dhaka Stock Exchange (DSE) dipping below 6,800-mark as worried investors continued to dump their holdings.

DSEX, the prime index of the DSE, went down by 56.23 points or 0.82 per cent to settle at 6,799, which is the lowest in nearly three months since August 19.

DSEX eroded more than 107 points within the past two trading sessions.

Analysts said the market remained under sale pressure as worried investors continued to cash in on stocks while institutional investors did not exhibit much exuberance amid ongoing volatility.

Two other indices also ended lower with the DSE 30 Index, comprising blue chips, losing 15.28 points to finish at 2,583 and the DSE Shariah Index (DSES) plunged 6.89 points to close at 1,437.

Turnover, a crucial indicator of the market, dipped below Tk 11 billion-mark again and amounted to Tk 10.75 billion on the country’s premier bourse, in a further decline by 6.11 per cent over the previous day’s tally of Tk 11.45 billion.

Top negative index contributors were BATBC, Investment Corporation of Bangladesh, Beximco Pharma, United Power and Robi. These five stocks jointly contributed over 25 point fall of DSEX, according to amarstock.com.

More than 78 per cent of traded issues lost their price, as out of 376 issues traded, 295 declined, 55 advanced and 26 remained unchanged on the DSE trading floor.

Beximco was the most traded stock with shares worth Tk 922 million changing hands, followed by Genex Infosys (Tk 618 million), NRBC Bank (Tk 603 million), Orion Pharma (Tk 513 million) and IFIC Bank (481 million).

The newly listed Sena Kalyan Insurance topped the gainer’s list for the second straight day, rising 10 per cent while Alif Manufacturing Company was the day’s worst loser, losing 8.37 per cent.

The Chittagong Stock Exchange (CSE) also ended sharply lower with the CSE All Share Price Index – CASPI –plunging 210 points to settle at 19,868 and the Selective Categories Index – CSCX, shedding 125 points to close at 11,936.

Of the issues traded, 219 declined, 38 advanced and 26 remained unchanged on the CSE.

The port city’s bourse traded 10.78 million shares and mutual fund units with a turnover value of Tk 347 million.

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