DSE loses Tk 11,852cr in 10 days | The Daily Star
12:00 AM, May 16, 2018 / LAST MODIFIED: 12:50 AM, May 16, 2018

DSE loses Tk 11,852cr in 10 days

DSEX, the benchmark index of the Dhaka Stock Exchange, fell for an unprecedented tenth consecutive day in spite of a psychological boost provided by the official entry of the Shanghai Stock Exchange and Shenzhen Stock Exchange.

As of yesterday, the slide, which is the longest yet since the launch of the index in January 2013, knocked off 265 points and wiped out Tk 11,852 crore, or 2.92 percent, in market value.

Before this, DSEX declined for nine days straight in June 2014.

Investor confidence in the market is shaky due to lower earnings declarations by heavyweight stocks and concerns about the upcoming national budget, according to EBL Securities.

The high interest rate is weighing on investors' mind, said market insiders.

DSEX declined 8.68 points, or 0.15 percent, yesterday to close at 5,548.89. Turnover, however, rose 7 percent to Tk 355.29 crore.

Of the traded issues, 123 advanced and 152 declined, while 59 securities remained unchanged.

Western Marine Shipyard dominated the turnover chart with its transaction of 83.58 lakh shares worth Tk 27.87 crore. It was followed by Beximco Limited, United Power Generation, Legacy Footwear and Queen South Textiles.

Queen South Textiles was the day's best performer, posting a gain of 9.79 percent, followed by Legacy Footwear, Monno Jute Stafflers and Rupali Life Insurance.

Shyampur Sugar was the worst loser, shedding 5.35 percent, followed by One Bank, Mutual Trust Bank and IT Consultants.

Chittagong stocks also fell yesterday, with the bourse's benchmark index, CSCX, declining 8.37 points, or 0.12 percent, to finish the day at 10,353.46 points.

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