Stocks slump as major sectors plunge

| Updated: September 28, 2022 10:19:08

Stocks slump as major sectors plunge

Stocks nosedived on Sunday as the jittery investors opted for booking profits from major sector shares following the recent price surge.

DSEX, the key index of the Dhaka Stock Exchange (DSE), went down by 48.83 points or 0.74 per cent to settle at 6,515, after gaining 12 points in the trading day.

Two other indices also ended sharply lower. The DS30 index, comprising blue chips, plunged 35.77 points to finish at 2,330 and the DSE Shariah Index (DSES) shed 15.71 points to close at 1,421.

Turnover, a crucial indicator of the market, however, rose to Tk 18.10 billion on the premier bourse, which was 8.64 per cent higher than the previous day’s turnover of Tk 16.66 billion.

Market analysts the investors preferred to book profit on quick-gaining stocks with an apprehension of dismal earnings forecasts of the major companies.

Of the issues traded, 117 declined, 93 advanced and 160 issues remained unchanged.

Orion pharma became the most-traded stock with shares worth Tk 1.79 billion changing hands.

The Chittagong Stock Exchange (CSE) also fell sharply with the CSE All Share Price Index (CASPI) losing 162 points to settle at 19,183 and its Selective Categories Index (CSCX) shedding 98 points to close at 11,498.

The port-city bourse has 49.36 million shares and mutual fund units with a turnover value of Tk 1.26 billion.

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