Economic Reporter :
The Dhaka Stock Exchange witnessed steep fall on Monday after opening flat. At the end of the days trading, the benchmark DSE index declined 89.18 points or 1.24 per cent to 7097.2.
As a result, country’s stock market plunged as the benchmark index fell for the sixth consecutive day.
In the last five days, the index lost 270 points or 3.66 per cent.
Shariah-based DSES index lost 21 points or 1.36 per cent to 1,525, while the blue-chip index DS30 slipped 26.58 points or 0.98 per cent to 2678.
Out of the 374 issues traded, 33 advanced, 324 declined, and 17 remained unchanged.
Almost all the stocks were gaining in recent months and now no stock can sustain their prices, regardless how much they gained in recent months, said Monjurul Islam, a trader at a brokerage firm in Motijheel.
“Panic grabbed the market as holding stocks turned synonymous to capital erosion,” he added.
Analysts assumed that profit taking attitude of the investors might have caused the index to drop as the market index had been hovering around its highest level in the last few weeks.
Turnover at the DSE, however, fell 15 per cent to Tk 1,393 crore, which was Tk 1,655 crore a day earlier.
Golden Son topped the gainers’ list that rose 9.75 per cent followed by SBAC Bank, BSRM Ltd, Sonali Paper, and National Housing Finance.
Meghna Condensed Milk shed mostly that lost 9.18 per cent followed by Beach Hatchery, Dacca Dyeing, Savar Refractories and Usmania Glass.
Orion Pharmaceuticals became the top traded stock with shares worth Tk 89 crore changing hands followed by Delta Life Insurance, LafargeHolcim Bangladesh, British American Tobacco, and Fortune Shoes.
The Chattogram Stock Exchange (CSE) also dropped on Monday. The CASPI, the general index of the port city bourse, edged down 314 points, or 1.49 per cent, to 20,707.
