The prime index of Dhaka Stock Exchange (DSE) witnessed a rapid fall to hit record 44-month low on Wednesday as investors sold their shares in apprehension of further fall in share prices.
Market analysts said the share market has faced critical moment for several months as investors had been suffering a lack of confidence for long. Besides, the country’s stocks showed a downward trend on Wednesday as investors were worried about the continuous fall in most of securities.
On the other hand, poor macroeconomic indicators, dearth of quality stocks and liquidity crunch worsened the ongoing confidence crisis among investors. They said the share market has been going through bad patches due to a drop in foreign investment, fear of instability of the market coupled with thin participation of institutional investors. The prime index of DSE decreased almost 53.06 points or 1.23 percent to 4228.36 points on the day, which was the lowest level of DSEX in 43 months since 2 May 2016.
Besides, the comprising blue chips index (DS30) went down by 14.88 points or 1.03 percent to 1421.38 while the DSE Shariah Index (DSES) fell by 19.09 points or 1.96 percent to close at 953.88 points.
On the other hand, the total turnover on the DSE reached Tk 2,799.62 million, over 14.50 percent lower from previous day’s value of Tk 3,274.61 million. The losers beat the gainers as out of 351 issues traded, 249 ended lower, 51 closed higher and 51 remained unchanged on the DSE floor.
LafargeHolcim Bangladesh dominated the DSE floor and became topped the turnover chart with 3.55 million shares worth Tk 139.96 million changing hands.
It was followed by ADNTEL (Tk 133 million), Standard Ceramics (Tk 123 million), Brac Bank (Tk 122 million) and KPCL (Tk 106 million).
ADNTEL was the best performer, posting a gain of 9.95 percent to Tk 44.20 while MEGHNAPET was the worst loser, losing 9.17 percent to Tk 9.90. Meanwhile, the port city bourse, the Chittagong Stock Exchange (CSE) also saw negative trend on Wednesday with its selective category index (CSCX) losing 75 points or 0.95 percent to 7806.05 points.
Besides, CSE All Share Price Index (CASPI) also fell by 122.77 points or 0.94 percent to settle at 12887.69 points on the day. At the CSE, total 219 issues were traded. Among them, 47 closed higher, 146 ended lower and 26 remained unchanged.
However, the number of shares transacted on the floor of the CSE was 5.49 million and the total turnover in value was almost Tk 145.35million.
