Business News

DSEX tumbles to three-month low

The prime index of the Dhaka Stock Exchange (DSE) tumbled to three months low level on Sunday as worried investors continued their selling binge on financial stocks. DSEX, the prime index of the DSE, went down by 58.07 points or 1.04 per cent to settle at 5,512. It was the lowest level of DSEX since January 02, 2019. The daily trade turnover on the prime bourse also dipped to three months to Tk 3.54 billion on Sunday as most of the investors were reluctant to make fresh investment in stocks amid ongoing bearish trend.

Two other indices also ended lower. The DS30 index, comprising blue chips, plunged 20.73 points to finish at 1972 and the DSES (Shariah) index lost 2.59 points to settle at 1,281. Turnover came down to Tk 3.54 billion, which was 9.46 per cent lower than the previous session’s turnover of Tk 3.91 billion. The losers took a strong lead over the gainers as out of 343 issues traded, 206 closed lower, 94 ended higher and 43 issues remained unchanged on the DSE trading floor.

Brac Bank topped the turnover charet with shares worth nearly Tk 219 million changing hands, closely followed by United Power, Butch-Bangla Bank, Gramemenphone and BATBC. JMI Syringes was the day’s best performer, posting a gain of 8.74 per cent while Bank Asia was the day’s worst loser, losing 10.52 per cent following the news of its corporate declarations.

Source: The Financial Express; Monday, 25 March 2019


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