Stocks witnessed yet another big fall on Sunday with the key index of the prime bourse dropping below 6,800-mark as cautious continued to dump their holdings to avoid further erosion in their investments.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), slid 78.19 points or 0.82 per cent to settle at 6,773, which is the lowest in nearly four months since August 19.
Turnover, a crucial indicator of the market, also dropped to a fresh seven month low to Tk 8.37 billion on the country’s prime bourse, in a further decline by 1.41 per cent over the previous day’s tally of Tk 8.49 billion.
Market analysts said the market is falling as panic gripped the investors that the market would fall further amid growing concern on new coronavirus variants.
Bangladesh is also set to suspend air connectivity with South Africa (SA) following growing concern over the new coronavirus variant Omicron that has been detected first there.
The European Union also said it aimed to halt air travel from the region and restrictions on movement and activity in Europe and beyond.
Two other indices also ended sharply lower with the DSE 30 Index, comprising blue chips, losing 26.69 points to finish at 2,576 and the DSE Shariah Index (DSES) plunged 13.05 points to close at 1,429.
More than 78 per cent of traded issues lost their price, as out of 372 issues traded, 291 declined, 66 advanced and 15 remained unchanged on the DSE trading floor.
Beximco was the most traded stock with shares worth Tk 917 million changing hands, followed by ONE Bank (Tk 571 million), IFIC Bank (Tk 464 million), Paramount Textile (Tk 435 million) and First Security Islami Bank (218 million).
The newly listed Sena Kalyan Insurance topped the gainer’s list, gaining 9.78 per cent while Tosrifa Industries was the day’s worst loser, losing 9.80 per cent.
The Chittagong Stock Exchange (CSE) also ended sharply lower with the CSE All Share Price Index – CASPI –plunging 220 points to settle at 19,838 and the Selective Categories Index – CSCX, shedding 133 points to close at 11,927.
Of the issues traded, 192 declined, 53 advanced and 21 remained unchanged on the CSE.
The port city’s bourse traded 14.14 million shares and mutual fund units with a turnover value of Tk 391 million.