Stocks continue to bleed

Bangladesh's stock market plunged today as the benchmark index of the Dhaka Stock Exchange fell for the sixth consecutive day.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), nosedived 89 points, or 1.24 per cent, to 7,097.

In the last five days, the index lost 270 points or 3.66 per cent.

Analysts assumed that profit taking attitude of the investors might have caused the index to drop as the market index had been hovering around its highest level in the last few weeks.

Turnover at the DSE, however, fell 15 per cent to Tk 1,393 crore, which was Tk 1,655 crore a day earlier.

At the DSE, 33 stocks advanced, 324 fell and 17 remained unchanged.

Golden Son topped the gainers' list that rose 9.75 per cent followed by SBAC Bank, BSRM Ltd, Sonali Paper, and National Housing Finance.

Meghna Condensed Milk shed mostly that lost 9.18 per cent followed by Beach Hatchery, Dacca Dyeing, Savar Refractories and Usmania Glass.

Orion Pharmaceuticals became the top traded stock with shares worth Tk 89 crore changing hands followed by Delta Life Insurance, LafargeHolcim Bangladesh, British American Tobacco, and Fortune Shoes.

The Chittagong Stock Exchange (CSE) also dropped today. The CASPI, the general index of the port city bourse, edged down 314 points, or 1.49 per cent, to 20,707.

Among the traded 307 stocks, 35 rose, 257 fell and 15 remained unchanged.