Staff Reporter :
Share price indices at Dhaka Stock Exchange fell over three-year low on Tuesday as the jittery investors went on panic sell amid continuous market fall.
Market observers said, the panic-stricken investors continued selling shares over recent macroeconomic development, ongoing banking crisis and dispute between the BTRC and Grameenphone, which accounts for 11 per cent shares of the DSE.
“The market plunged to record low as panicked investors disposed of shares fearing further loss,” former finance adviser to caretaker government Dr AB Mirza Azizul Islam told The New Nation.
He said the market went on red amid loss of investors’ confidence following BTRC’s announcement of appointing administrators, liquidity crisis in banks and poor corporate earnings.
“Investors’ confidence will not be restored unless good governance is ensured in the financial sector along with bringing quality IPOs,” said Islam, who also performed as the chairman of the Securities Exchange Commission.
DSEX, the prime index of Dhaka Stock Exchange (DSE) plunged 52.74 points or 1.11 per cent to settle at 4,708 points on Tuesday, the lowest mark since November 17, 2016.
Two other indices also ended lower. The DS30 index, comprising blue chips, fell 14.60 points to finish at 1,660 and the DSES (Shariah) index lost 8.56 points to settle at 1,080.
Turnover came down to Tk 2.88 billion, which was 18 per cent lower than the previous session’s turnover of Tk 3.50 billion.
A total number of 96,565 trades were executed in the day’s trading session with trading volume of 97.26 million shares and mutual fund units.
The market-cap of the DSE also fell to Tk 3,561 billion on Tuesday, from Tk 3,588 billion in the previous day.
The losers took a strong lead over the gainers as out of 352 issues traded, 292 closed lower, 30 ended higher and 30 issues remained unchanged on the DSE trading floor.
National Tubes topped the turnover chart with shares worth Tk 144 million changing hands, closely followed by United Power, Monno Jute Stafflers, Silco Pharma and Eastern Insurance.
“Panic sale of shares by many investors is responsible for the latest market fall. Moreover, share price indices at the DSE fell for ten trading sessions in the last two weeks, as most of the investors were reluctant to make fresh investment in stocks amid ongoing bearish trend,” said a stock market analyst Prof Abu Ahmed.
He said both retail and institutional investors have adopted a cautious stance following the continuous declining trend.
Share price indices at Dhaka Stock Exchange fell over three-year low on Tuesday as the jittery investors went on panic sell amid continuous market fall.
Market observers said, the panic-stricken investors continued selling shares over recent macroeconomic development, ongoing banking crisis and dispute between the BTRC and Grameenphone, which accounts for 11 per cent shares of the DSE.
“The market plunged to record low as panicked investors disposed of shares fearing further loss,” former finance adviser to caretaker government Dr AB Mirza Azizul Islam told The New Nation.
He said the market went on red amid loss of investors’ confidence following BTRC’s announcement of appointing administrators, liquidity crisis in banks and poor corporate earnings.
“Investors’ confidence will not be restored unless good governance is ensured in the financial sector along with bringing quality IPOs,” said Islam, who also performed as the chairman of the Securities Exchange Commission.
DSEX, the prime index of Dhaka Stock Exchange (DSE) plunged 52.74 points or 1.11 per cent to settle at 4,708 points on Tuesday, the lowest mark since November 17, 2016.
Two other indices also ended lower. The DS30 index, comprising blue chips, fell 14.60 points to finish at 1,660 and the DSES (Shariah) index lost 8.56 points to settle at 1,080.
Turnover came down to Tk 2.88 billion, which was 18 per cent lower than the previous session’s turnover of Tk 3.50 billion.
A total number of 96,565 trades were executed in the day’s trading session with trading volume of 97.26 million shares and mutual fund units.
The market-cap of the DSE also fell to Tk 3,561 billion on Tuesday, from Tk 3,588 billion in the previous day.
The losers took a strong lead over the gainers as out of 352 issues traded, 292 closed lower, 30 ended higher and 30 issues remained unchanged on the DSE trading floor.
National Tubes topped the turnover chart with shares worth Tk 144 million changing hands, closely followed by United Power, Monno Jute Stafflers, Silco Pharma and Eastern Insurance.
“Panic sale of shares by many investors is responsible for the latest market fall. Moreover, share price indices at the DSE fell for ten trading sessions in the last two weeks, as most of the investors were reluctant to make fresh investment in stocks amid ongoing bearish trend,” said a stock market analyst Prof Abu Ahmed.
He said both retail and institutional investors have adopted a cautious stance following the continuous declining trend.
