DSEX records 42-month low

The prime index of Dhaka Stock Exchange (DSE) witnessed a rapid fall to hit record 42-month low 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.

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 78.66 points or 1.75 percent to 4,419.82 points on the day, which was the lowest level of DSEX in 42 months since June 27, 2016. Besides, the comprising blue chips index (DS30) went down by 30.33 points or 1.97 percent to 1,508.28 while the DSE Shariah Index (DSES) fell by 20.27 points or 2 percent to close at 994.78 points. On the other hand, the total turnover on the DSE reached Tk 2,815.62 million, over 8.15 percent lower from previous day’s value of Tk 3,065.40 million.

The losers beat the gainers as out of 353 issues traded, 278 ended lower, 35 closed higher and 40 remained unchanged on the DSE floor. Ring Shine Textiles dominated the DSE floor and became topped the turnover chart with 12.49 million shares worth Tk 156.80 million changing hands. It was followed by Beacon Pharma (Tk 132 million), Square pharma (Tk 71.34 million), Standard Ceramics (Tk 59.55 million) and Brac Bank (Tk 55.71 million).

Anlima Yarn Dyeing Ltd was the best performer, posting a gain of 9.18 percent to Tk 33.30 while Tung Hai Knitting and Dyeing ltd was the worst loser, losing 4.55 percent to Tk 2.10. Meanwhile, the port city bourse, the Chittagong Stock Exchange (CSE) also saw negative trend on Tuesday with its selective category index (CSCX) losing 141.36 points or 1.70 percent to 8,151.43 points.

Besides, CSE All Share Price Index (CASPI) also fell by 232.87 points or 1.70 percent to settle at 13,441.59 points on the day. At the CSE, total 230 issues were traded. Among them, 35 closed higher, 173 ended lower and 22 remained unchanged. However, the number of shares transacted on the floor of the CSE was 7.3 million and the total turnover in value was almost Tk 146.32 million.