DSEX plummets 104 points, turnover drops 62%

The Dhaka Stock Exchange (DSE) experienced a sharp decline on Sunday as tensions escalated amid a nationwide non-cooperation programme called by the Anti-discrimination Student Movement.

According to the DSE website, DSEX, the benchmark index of the DSE, plummeted by 105 points and settled at 5,229.

Shariah index DSES and blue-chip DS30 also shed 22 and 42 points respectively to stand at 1,144 and 1,859.

Investor presence on the trading floor was notably thin, contributing to the market's downward spiral, according to the market analysts.

The country’s capital market and banks will be closed from Sunday to Tuesday as per the government decision taken after a fresh wave of violence broke out.

According to the DSE, the turnover dropped a critical measure of market activity, reaching Tk207.83 crore.

On the previous working day, Thursday, the trading totalled Tk552.75 crore. Accordingly, the transaction decreased by Tk344.92 crore or 62% on Sunday.

Out of the issues traded, a staggering 372 saw declines, a mere six advanced and 19 remained unchanged, painting a bleak picture on the DSE trading floor.

The market displayed a downward trend from the start of the session as sellers dominated, opting to liquidate their holdings amidst current political and economic uncertainties. Conversely, there were few buyers in the market.

Unilever Consumer Care was the most traded stock on Sunday generating the highest turnover of Tk48.62 crore, followed by Heidelberg Cement and Square Pharmaceuticals generating turnover of Tk18.59 crore and Tk6.56 crore respectively.

Besides, top 10 companies in terms of transactions on DSE include - Express Insurance, British American Tobacco, Grameenphone, Techno Drugs, Beximco Pharmaceuticals, Midland Bank and Shyampur Sugar Mills.

The top 10 companies in terms of price decline are:- Zeal Bangla Sugar, Munnu Agro, Eastern Lubricants, Pharma Aids, Dutch-Bangla Bank, Lovello, Ifad Autos, Orion Infusion, Libra Infusion and Linde BD.

The Chittagong Stock Exchange (CSE) mirrored this downturn, with the All Shares Price Index (CASPI) dropping by 193 points to 14,926, and the Selective Categories Index (CSCX) decreasing by 117 points to 8,995.

Out of the 175 issues traded, a staggering 154 saw declines; a mere 10 advanced and 11 remained unchanged.

The turnover dropped to Tk335 crore. On the previous working day, Thursday, a total of Tk338 crore was traded.

Banks and bourses to be closed

The country’s banks and capital market will be closed from Sunday to Tuesday as the government announced general holidays again amid the ongoing unrest.

The Bangladesh Bank and the Bangladesh Securities and Exchange Commission (BSEC) decided to keep banks and bourses closed after the government declared general holidays.

Bangladesh Bank spokesman Md Mezbaul Haque confirmed this.