Dhaka stocks tumble as DSEX plunges 80 points

Dhaka Stock Exchange (DSE) logo_11zon

The stock market took a major hit on Wednesday as the Dhaka Stock Exchange (DSE) extended its losing streak, with its key index DSEX slumping by 80 points amid a broad-based sell-off.

At the end of the day’s trading, the DSEX stood at 5,116 points — down from 5,197 points on Tuesday. The benchmark index began October at 5,415 points, marking a cumulative loss of 299 points in just 15 days.

The Shariah-based index DSES dropped by 20 points, while the blue-chip index DS30 fell by 28 points, declining by 1.82% and 1.43% respectively over the previous session.

The day saw a steep decline across most listed companies. Out of the total issues traded, only 33 advanced, while 328 declined and 35 remained unchanged.

Prices fell sharply across all three categories — A, B and Z. In the premier A-category, which includes companies with the highest dividend records, only 22 issues gained, while 178 lost value.

In the block market, shares worth Tk 6.35 crore were traded across 16 companies, with Mutual Trust Bank posting the highest transaction of Tk 1.98 crore.

The turnover on the DSE hit its lowest level in October, dropping to Tk 487 crore, down from Tk 606 crore in the previous session.

People’s Insurance Company Limited topped the gainers’ list with a 4.5% rise, while LankaBangla Finance PLC plunged more than 12% to become the worst performer of the day.

The Chittagong Stock Exchange (CSE) also mirrored the DSE’s downturn, with its overall index shedding 168 points, or 1.14%, in a single day.

Out of 185 traded issues on the CSE, 30 advanced, 138 declined, and 17 remained unchanged.

The turnover on the port city bourse also decreased slightly to Tk 14 crore, from Tk 15 crore in the previous session.

SEML Lecture Equity Management Fund topped the gainers’ list on the CSE, surging over 9%, while LankaBangla Finance PLC also ended as the biggest loser there with a decline of more than 13%.