DSEX, the prime index of the Dhaka Stock Exchange (DSE) dropped below the 5,000-point mark after 5 weeks and ended at 4,938.65 points, shedding 86.44 points or 1.72 per cent.
The prime index of the DSE shed 395.4 points or 7.41 per cent from this year’s peak of 5,334.04 points on October 12, 2014.
The other two indices also saw sharp decline. The DS30, comprising blue chips lost 51.62 points or 2.76 per cent to close at 1,815.36 points. The DSE Shariah Index plunged 22.44 points or 1.90 per cent to close at 1,157.85 points.
Amid selling frenzy, the total turnover on DSE improved to Tk 8.57 billion, registering an increase of 38.22 per cent over the previous session’s turnover of Tk 6.20 billion.
The investors’ attention was mostly concentrated on engineering, power and pharma-the sectors that accounted for 25 per cent, 20 per cent and 14 per cent respectively of the day’s total turnover.
“The pessimism turned into panic on the day over fear of political unrest ahead, forming a mass sell-off pressure,” said an analyst.
“The market started the week with a negative vibe as the DSEX fell below 5,000-level amidst investors’ big sell-off across the major sectors,” said International Leasing Securities in an analysis.
“The downturn was mostly triggered by the hefty decline of large-cap stocks including local and multinational companies”.
The investors’ behaviour indicated that most of them are moving towards stocks which are more likely to offer quick profit instead of waits for a steady returns in the long run, said the International Leasing.
LankaBangla Securities said: “The market observed severe selling pressure as investors went for hefty selling as soon as ‘psychological’ support level of 5,000-mark was broken,”
However, market turnover was titled towards top traded stocks. Top 20 traded stocks accounted for 49 per cent total market turnover. Large cap stocks took the hit, said the stock broker.
IDLC Investments said: “Preceding week’s waning tone extended further as the market slumped amid buoyant turnover”.
All the major sectors suffered the market’s setback. Among the major sectors, cement and telecommunications sectors took the most hit, losing 5.71 per cent and 2.37 per cent respectively followed by fuel and power 1.86 per cent.
Banks and NBFIs have lost 1.55 per cent and 1.50 per cent respectively. Pharmaceuticals went down by 1.38 per cent. Only textile and food and allied sectors closed flat in green.
Losers outpaced gainers as out of 306 issues traded, 156 declined, 112 advanced and 38 remained unchanged on the DSE floor.
Activities increased in the major bourse (DSE) where trade and volume were up by 21.05 per cent and 38.89 per cent respectively. A total number of 0.168 million trades were executed in the day’s trading session with192.43 million securities of trading volume.
The total market capitalisation of the DSE stood at Tk 3,275.29 billion against Tk 3,322.52 billion in the previous session.
The new issue — Western Marine Shipyard was the most traded stock for the fifth session, with shares worth Tk 630.84 million changing hands followed by Keya Cosmetics, Appollo Ispat, DESCO and Lafarge Surma cement.
National Polymer was the day’s highest gainer, posting a rise of 32.11 per cent while RSRM Steels was the day’s worst loser, slumping by 12.15 per cent.
The port city bourse Chittagong Stock Exchange (CSE) also saw sharp decline with its Selective Categories Index – CSCX – lost 113.71 points to close at 9,329.09 points.
Losers beat gainers 133 to 73, with 19 issues remaining unchanged at the port city bourse that traded 17.08 million shares and mutual fund units, turnover value of Tk 676.31 million.