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The Financial Express

Stocks plunge in early trading

| Updated: December 11, 2019 12:52:55


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After hitting three years low in the previous day, stocks opened lower on Monday as worried investors continued their selling binge amid growing concern over the country’s overall economy.

Market analysts said recent market volatility coupled with concern over the country’s overall economy, rising non-performing loan and liquidity crunch dented investors’ confidence.

Within 30 minutes of trading, DSEX went down more than 21 points while the CSE All Share Price Index of port city’s bourse fell 57 points at 11:00am when the report was filed.

DSEX, the prime index of the DSE, went down by 21.55 points or 0.46 per cent to stand at 4,574 points at 11:00am.

The DS30 index, comprising blue chips also fell 3.53 points to 1,579 and the DSE Shariah Index (DSES) lost 4.08 points to stand at 1,037 points till then.

Turnover, the important indicator of the market, stood at Tk 424 million when the report was filed at 11:00am.

Of the issues traded till then, 52 advanced, 192 declined and 50 remained unchanged.

The low-cap companies continued to dominate the turnover chart with Sinobangla Industries was the most traded stocks till then with shares worth Tk 28 million changing hands, closely followed by Bashundhara Paper, Sonar Bangla Insurance, Wata Chemicals and Beacon Pharma.

The port city’s bourse – the Chittagong Stock Exchange – (CSE), also witnessed dowturn with CSE All Share Price Index- CASPI-losing 57 points to stand at 13,922 points, also at 11:00am.

The Selective Category Index – CSCX –fell 34 points to stand at 8,450 points till then.

Of the issues traded till then, 17 advanced, 55 declined 12 remained unchanged with Tk 10 million in turnover.

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