Stocks tumble to 37 months’ low

Stocks tumble to 37 months’ low

The Dhaka stocks sank to a 37 months’ low today due to thin participation from institutional and foreign investors amid liquidity shortage in the banking sector.

DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), plummeted by 75.33 points today, or 1.61 per cent, to 4,596.

Market analysts said general investors are suffering from lack of confidence so their participation is declining.

On the other hand, institutional investors are also reducing their investment, so, the market suffers.

Turnover, another important indicator of the bourse, also dropped by 19.28 per cent to Tk 349.01 crore today.

Of the traded issues, 53 advanced, 273 declined and 27 remained unchanged.

Sinobangla Industries dominated the turnover chart with its transaction of Tk 14.63 crore, followed by Sonar Bangla Insurance, National Tubes, Daffodil Computers and Lafarge Holcim Bangladesh.

Sinobangla Industries was the day’s best performer with its 10 per cent gain, while Regent Textile Mills was the worst loser, shedding by 14 per cent.

Chattogram stocks also fell with the bourse’s benchmark index, CSCX, decreasing 137.40 points, or 1.59 per cent, to finish the day at 8,485.30 points.