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The prime index of the Dhaka Stock Exchange (DSEX) slumped below 6,500-mark on Monday after seven weeks as jitter investors went on a heavy sell-off to avoid further erosion of their portfolios.
The market witnessed a steep fall from the beginning of the session as investors, particularly the retail ones, went for panic sales, plunging below the 6,500-mark instantly at the opening.
DSEX, the prime index of DSE, slid 72.49 points or 1.10 per cent to settle at 6,482. DSEX eroded over 102 points in the past two consecutive sessions.
Two other indices also saw a sharp decline. The DSE 30 Index, comprising blue chips, plunged 25.31 points to finish at 2,409 and the DSE Shariah Index (DSES) shed 13.54 points to close at 1,428.
Investors reduced their participation significantly further in the market, bringing turnover, an important indicator, to Tk 3.90 billion, from Tk 3.94 billion in the previous day.
Market analysts said the investors were mostly reluctant to put fresh stakes in stocks as they were continuously losing their risk-taking appetite amid persistent bearish markets.
Turnover fell to one year low further as the liquidity shortage in the capital market exacerbated further amid growing consumption in Ramadan and the upcoming spending spree centering Eid Festival, they said.
Prices of more than 91 per cent traded issues declined, as out of 380 issues traded, 347 declined, 14 advanced and 19 issues remained unchanged on the DSE trading floor.
The newly listed JMI Hospital Requisite Manufacturing topped the turnover list with shares worth Tk 736 million changing hands, followed by LafargeHolcim, Kattali Textile, Square Pharma, and Beximco.
The Chittagong Stock Exchange (CSE) also closed sharply lower with the CSE All Share Price Index – CASPI -losing 172 points to settle at 19,130 and the Selective Categories Index – CSCX -shedding 103 points to close at 11,477.
Of the issues traded, 224 declined, 23 advanced and 19 issues remained unchanged on the CSE.
The port city bourse traded 9.11 million shares and mutual fund units with a turnover value worth over Tk 365 million.
(FE)
