Business News

DSE general index declines
United News of Bangladesh . Dhaka

The Dhaka Stock Exchange general index plunged below 2,600 mark Sunday in two and half months amid panic selling.
Stockbrokers said investors got panicked in absence of an acceptable reason behind the sluggish market and were influenced by a rumour that the share prices would fall further. ‘This yielded in placing huge sales orders,’ said one of them.
As a consequence, 197 issues out of the total 232 traded on the day incurred losses while only 23 gained and 12 remained unchanged. The DSE general index registered worst slide in five months to shed 83 points or over 3 per cent to close at 2,584 from 2,667 points on Thursday. Earlier, the biggest single-day fall of 93 points was recorded on June 11 this year.
The continued fall prompted the Securities and Exchange Commission to convene a meeting with DSE and CSE to review the situation today.
During the day’s trading, the All Shares Price Index fell 65 points or a little below 3 per cent to close at 2,146 points while the DSE-20 index for selective shares declined 63 points or 2.74 per cent to close at 2,242.
The day’s total turnover, however, increased to Tk 209 crore on Sunday from the two and half month low of Tk 183 crore recorded on Thursday. The market capitalisation fell further to Tk 94,100 crore on Sunday from Tk 96,400 crore on Thursday.
Beximco Pharma, ACI, Beximco, Titas Gas, Uttara Bank, Lankabangla Finance, Beximco Textiles, Islami Bank, Summit Alliance and National Tubes were the day’s turnover leaders in terms of value. The day’s volume leaders were Beximco Textiles, AIMS 1st Mutual Fund, Beximco Pharma, Beximco, GRAMEENS2, Golden Son, Keya Detergent, Lankabangla Finance, Keya Cosmetics and Union Capital.
Top gainers of the day were Popular Life Insurance, Beximco Textiles, Dandy Dyeing, Libra Infusion, Hakkani Pulp and paper, Janata Insurance, BCIL, Modern Cement, Al-Amin Chemicals and Aftab Auto.
Top losers were Golden Son, United Insurance, Padma Print, Sonargaon Textiles, Mithun Knit, ACI, Purabi General Insurance, Gulf Foods, ICB and Summit Alliance.