Business, Back Page

Stocks witness massive fall

Published : 27 Nov 2021 10:23 PM | Updated : 28 Nov 2021 02:06 PM

Stocks witnessed a massive fall last week as investors sold their shares amid worries of further price reduction.

Market analysts said the stocks saw a massive drop in selling pressure from the beginning of the week which created panic among the investors.

Besides, the banking sector witnessed the worst performance last week after the news of increased non-performing loans which stood at more than Tk 1.0-trillion mark again, as of September, they mentioned.

The money market is under some liquidity pressure, they said, adding that poor performance in the banking sector was taking a serious toll on the index.

The banking sector declined the most on the Dhaka Stock Exchange (DSE), losing 5.40 percent, they mentioned. 

However, DSEX, the prime index of the DSE, went down by 239.73 points or 3.38 percent to end at 6,852 in the last week, after gaining 185 points in the past two straight weeks.

The DS30 index, comprising blue chips, declined by 92.08 points to settle at 2,602 and the DSE Shariah Index (DSES) decreased by 37.95 points to  finish at 1,442.

On the other hand, the week's total turnover went down to Tk 63.06 billion on the DSE as against Tk 69.92 billion in the week before.

The daily turnover averaged out at Tk 12.61 billion on the DSE, which was 19.82 percent lower than the previous week's average of Tk 13.98 billion.

Besides, the market capitalization of the DSE decreased by Tk 150 billion during the week to stand at Tk 5,460 billion on Thursday.

Of the 380 issues traded, 313 declined, 49 advanced and 18 remained unchanged on the DSE trading floor.

Beximco topped the turnover chart with shares worth Tk 5.13 billion changing hands.

It was followed by ONE Bank (Tk 5.0 billion), IFIC Bank (Tk 3.05 billion), First Security Islami Bank (Tk 2.68 billion) and Paramount Textile (Tk 1.77 billion).

The newly listed ACME Pesticides topped the gainers' list, posting a 60 percent gain, while LR Global Mutual Fund One was the worst loser, falling 20.65 percent.

On the other hand, the port city bourse, the Chittagong Stock Exchange (CSE) also saw a rapid fall with its selective category index (CSCX) losing 399.46 points in the last week to close at 12,060 points.

The All-Share Price Index (CASPI) of the CSE was lower by 665 points to close at 20,058 points.

Of the 339 issues traded, 55 advanced, 270 declined and 14 remained unchanged on the CSE floor.

The port city's bourse traded 11.42 crore shares and mutual fund units with turnover value of Tk 262 crore during the time.