Economic Reporter :
Country’s premier bourse, Dhaka Stock Exchange (DSE), Tuesday witnessed another big correction by extending the falling trend of previous session due to confidence crisis persisted amid foreign selloffs and thin presence of institutional investors.
Investors on Tuesday demonstrated in front of the DSE as stocks continue to plunge.
Market analysts said that the trend of sell-off intensified while the capital market traders’ tension increased over the banks’ profitability amid the government move for bringing down the lending rates to single digits.
They also observed that few other factors including liquidity crisis, aggressive bank borrowing by government, declining outstanding foreign portfolio investment, sluggish earning growth, and poor payout ratio of listed companies, deepened the tension of investors.
Besides, tussle between mobile phone operator Grameenphone (GP) and telecom regulator Bangladesh Telecommunication Regulatory Commission (BTRC), and post-dividend free fall price adjustment of large-cap companies hurt the market.
The broad index, DSEX closed at 4036.23 points on the day with a loss of 87 points or 2.11 percent.
Besides, two selective indices, Blue Chip index, DSE30 and Shariah index, DSES also went down by 26.14 points and 22.93 points to settle at 1361.64 points and 907.03 points respectively.
On the DSE trading floor, a total number of 108,832 trades were executed on Tuesday’s trading session with a trading volume of 115.08 million securities.
Losers took a strong lead over gainers as out of 355 issues traded, 32 securities gained price while 293 declined and 30 remained unchanged.
The top 10 gainers were Phoenix Finance First Mutual Fund, ADN Telecom, EBL NRB Mutual Fund, CAPM BDBL Mutual Fund, Olympic Industries, New Line Clothing, AB Bank First Mutual Fund, Exim Bank First Mutual Fund, Popular Life First Mutual Fund and BSRM.
LafargeHolcim Bangladesh topped the turnover chart followed by Beacon Pharma, ADN Telecom, KPCL, Square Pharma, Ring Shine, Brac Bank, Northern Jute, Daffodil Computer and Grameenphone.
The top 10 losers were SS Steel, Al-haj Textile, Golden Harvest, Meghna Petroleum, Samata Leather, AIBL First Islami Mutual Fund, Meghna Condensed Milk, Style craft, Beacon Pharma and Northern Jute.
On the other hand, port city bourse, Chittagong Stock Exchange (CSE) also closed at red extending the losing trend of previous day.
CSCX and CASPI declined by 166.14 points and 274.74 points to stand at 7446.82 points and 12295.34 points respectively.
At CSE, a total of 6,537,816 shares and mutual fund of 244 companies were traded, of which 21 issues advanced while 203 declined and 20 issues remained unchanged.
