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Staff Correspondent
The prime index of Dhaka Stock Exchange (DSE) witnessed a rapid fall to hit record 22-month low as investors sold their shares in apprehension of further fall in share prices.
Besides the country’s stocks picked up a downward trend on Sunday as investors have taken a cautious stance fearing turmoil centring the next parliamentary election.
Market experts said the share market has been going through bad patches due to a drop in foreign investment, fear of political instability coupled with thin participation of institutional investors.
However, the market started on negative note and the downturn continued amid 48-hour transport strike in the country.
Finally, the prime index of DSE decreased almost 69.8 points or 1.32 percent to 5,212 points on the day, which was the lowest level of DSEX in 22 months since January 08, 2017.
Besides, the comprising blue chips index (DS30) went down by 23.22 points or 1.09 percent to 1,852.83 while the DSE Shariah Index (DSES) fell by 10.24 points to close at 1,210.42 points.
On the other hand, the total turnover on the DSE reached Tk 3,717.17 million, over 12.5 percent lower from previous day’s value of Tk 4,251 million.
The losers beat the gainers as out of 339 issues traded, 247 ended lower, 64 closed higher and 28 remained unchanged on the DSE floor.
Khulna Power Company dominated the DSE floor and became topped the turnover chart with 1.92 million shares worth Tk 242 million changing hands.
It was followed by Monno Ceramic Industries (Tk 178 million), Shahjalal Islami Bank Tk 153 million), BBS Cables (Tk 101 million) and Active Fine Chemicals (Tk 100 million).
Mozaffar Hossain Spinning Mills was the best performer, posting a gain of 10.61 percent while Khulna Indo-Bangla Pharmaceuticals was the worst loser, losing 11.81 percent.
Meanwhile, the port city bourse, the Chittagong Stock Exchange (CSE) also saw negative trend on Sunday with its selective category index (CSCX) losing 128 points to 9,714 points.
Besides, CSE All Share Price Index (CASPI) also fell by 217 points to settle at 16,030 points on the day.
At the CSE, total 225 issues were traded. Among them, 42 closed higher, 160 ended lower and 23 remained unchanged.
However, the number of shares transacted on the floor of the CSE was 6.75 million and the total turnover in value was almost Tk 14.9 crore.