Sunday, July 5, 2020 | ePaper

Stocks plunge amid selling binge

  • Print
Economic Reporter :
Stocks ended lower on Wednesday, after remaining flat in the previous day, as investors mostly on selling binge on sector-wise large-cap shares.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 42.01 points or 0.87 per cent to settle at 4,737, after inching down by 2.28 points in the previous day.
Market analysts said the investors' confidence got a battering, which triggered sell-off again on selective large-cap shares.
Large-cap stocks like Grameenphone, ICB, BATBC, United Power and Dutch-Bangla Bank led the market fall, said a leading broker.
The market opened on negative note and the downward trend continued until end of the session with no sign of reversal.
Two other indices also ended lower. The DS30 index, comprising blue chips, lost 17.26 points to finish at 1,647 and the DSE Shariah Index shed 6.91 points to close at 1,087.
Turnover, a crucial indicator of the market, also fell slightly to Tk 3.89 billion, which was 0.75 per cent lower than the previous day's turnover of Tk 3.92 billion.
Losers took a strong lead over the gainers as out of 350 issues traded, 235 closed lower, 77 ended higher and 38 remained unchanged on the DSE trading floor.
A total number of 124,783 trades were executed in the day's trading session with trading volume of 135.19 million shares and mutual fund units.
The market-cap of the DSE also fell to Tk 3,568 billion on Wednesday, from Tk 3,599 billion in the previous session.
Sonar Bangla Insurance topped the turnover chart with shares worth Tk 127 million changing hands, followed by National Tubes, Renata, Wata Chemicals and Khulna Power.

More News For this Category

Govt gearing up for new era of taxation

Economic Reporter :The government has chalked out a series of programmes to enter a new era of taxation from 2020-21 FY in the run-up to achieving Vision 2041 and reaching

New chairman of SMUCT Trustee Board takes charge

New chairman of SMUCT Trustee Board takes charge

Business Desk :Professor Mostafizul Haque has taken over the charge as new chairman of the Board of Trustees of Shanto-Mariam University of Creative Technology (SMUCT).Late freedom fighter Md Imamul Kabir

DCCI for demand-based modern curriculum for industry

Economic Reporter :Dhaka Chamber of Commerce and Industry (DCCI) on Saturday called for modernizing curriculum, up-skilling and re-skilling of workers utilizing the Fourth Industrial Revolution (4IR), creating an inclusive digital

Kayesh Chowdhury, Executive Vice-President & Chattogram Area Head of City Bank, handing over ambulance to Mahbubur Rahman, Commissioner of CMP at Chattogram Metropolitan Police Lines on Thursday.  Additional Police Commissioner (Finance & Admin) Amena Begum, Additional Police Commissioner (Crime and Operations) Shyamal Kumar Nath and Additional Police Commissioner (Traffic) S.M. Mostaque Ahamed Khan, among others, were present.

Kayesh Chowdhury, Executive Vice-President & Chattogram Area Head of City Bank, handing over ambulance to Mahbubur Rahman, Commissioner of CMP at Chattogram Metropolitan Police Lines on Thursday. Additional Police Commissioner (Finance & Admin) Amena Begum, Additional Police Commissioner (Crime and Operations) Shyamal Kumar Nath and Additional Police Commissioner (Traffic) S.M. Mostaque Ahamed Khan, among others, were present.

Gloria Jeans Coffees, BFC take off with Evaly Food

Gloria Jeans Coffees, BFC take off with Evaly Food

Business Desk :Gloria Jeans Coffees and BFC have joined Evaly Food Express (e-food), Evaly's food delivery service. All food from these two popular food chains can now be ordered through

AKASH DTH slashes connection price

Business Desk :The country's only legal Direct-To-Home service provider AKASH DTH has reduced the connection fee by 1,000 Taka. The new connection of this modern TV connectivity technology now costs

ISPAB threatens to suspend service if VAT not revised

Economic Reporter :The Internet Service Providers Association of Bangladesh (ISPAB) on Saturday threatened to suspend internet connections across the country "for hours" if double-layer value added tax (VAT), which they

BSCIC estate to generate 5,000 more jobs in Rajshahi

BSS, Rajshahi :Development works of the second industrial estate of Bangladesh Small and Cottage Industries Corporation (BSCIC) are progressing fast despite the novel coronavirus (Covid-19) pandemic in Rajshahi.The estate is

US firms create record 4.8 million jobs in June

BBC News :The US economy created jobs at a record pace in June as firms took on more staff after the coronavirus downturn.Payrolls surged 4.8 million, the most since

UNDP launches 'Future of Work Lab' for resilient BD economy

BSS, Dhaka :The United Nations Development Programme (UNDP), in collaboration with its Bangkok Regional Hub, has launched the 'Future of Work Lab' with a view to facilitating South-South cooperation