DSE loses 65 points in two days
It took just two days till yesterday for the Dhaka bourse to lose 65 points of its key index. But gaining it had taken a dozen days.
Market insiders said the fall was drastic, resulting from institutional and foreign investors making more sales than purchases.
Moreover, most of the blue chip stocks fell as the investors usually put their money in the good stocks.
The Dhaka Stock Exchange (DSE) data shows that the drop of the DS-30, the index of the blue-chip stocks, was by 27.59 points or 1.68 percent.
Of the blue-chip stocks, Grameenphone and Square Pharmaceuticals fell the most. These two large listed companies were largely responsible for the impact on the index.
“Some investors are apprehensive of the economic growth of Bangladesh, so they are cautious about their investments,” said a high official of a top brokerage house.
Already an economic contraction is being observed in neighbouring India, which fuelled their fears about the Bangladesh’s economy, he said. On the other hand, foreign investors are worried over chances of further depreciation of the local currency against the greenback. So, they are selling their stocks, he added.
Yesterday, the DSEX, the benchmark index of the DSE, edged down by 37.24 points to 4,697.35. Turnover, another important indicator, dropped by 14.53 percent to Tk 412.37 crore.
Of the traded issues, 118 advanced, 199 declined and 32 remained unchanged.
LafargeHolcim Bangladesh dominated the turnover chart with transactions of Tk 16.13 crore, followed by Sonar Bangla Insurance, Stylecraft, Dutch-Bangla Bank and Sinobangla Industries.
Zaheen Spinning Mills was the day’s best performer with a 9.78 percent gain while Samorita Hospital was the worst shedding 7.82 percent.
Chattogram stocks also edged down with the bourse’s benchmark index, the CSCX, decreasing 64.84 points, or 0.74 percent, to finish the day at 8,685.67.
Losers beat gainers as 78 advanced and 187 declined while 32 finished unchanged on the Chittagong Stock Exchange.
The port city bourse traded shares and mutual funds worth Tk 22.19 crore.
