Stock markets nosedived on Monday, the first trading session of the Fiscal Year (FY) 2018-19, as investors were on selling spree on sector specific stocks.
The market opened on negative note and the downward trend continued till end of the session with no sign of reversal, finally key index of the major bourse lost 83 points.
DSEX, the benchmark index of the Dhaka Stock Exchange, settled at 5,322, slumping by 83 points or 1.53 per cent over the previous session.
The two other indices ended lower. The DS30 index, comprising blue chips, fell 44 points to settle at 1,915 and the DSE Shariah Index plunged 16 points to close at 1,248.
Turnover, the most important indicator of the market, also came down to Tk 7.85 billion, which was 2.0 per cent lower than the previous session’s Tk 8.01 billion.
The losers took a strong lead over the gainers as out of 342 issues traded, 206 declined, 106 advanced and 30 issues remained unchanged on the DSE trading floor.
Bashundhara Paper Mills, which made its share trading debut today, topped the DSE turnover chart with 6.31 million shares worth Tk 886.58 million changing hands, closely followed by Ratanpur Steel, Monno Ceramic Industries, Beximco and United Power.
The port city bourse CSE also ended lower with its CSE All Share Price Index – CASPI – shedding 186 points to settle at 16,372 and the Selective Categories Index–CSCX–losing 113 points to finish at 9,896 points.
Here too, losers beat gainers as 134 issues closed lower, 80 ended higher, with 17 issues remained unchanged on the CSE.
The port city bourse traded 8.77 million shares and mutual fund units worth more than Tk 425 million in turnover.