Stocks slide as floods hit market’s mood
The market opened on a bullish note on Sunday, but the trend reversed soon
After witnessing a short-lived upward momentum, shares on the Dhaka and Chattogram stock exchanges settled lower on Sunday as the worsening flood situation in the country's north-eastern regions upset the market.
The market opened on a bullish note on Sunday, but the trend reversed soon.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), dropped 19.3 points or 0.3% to 6,406.
The Dhaka bourse observed a considerable decline in participation, while turnover decreased by 14.4% to stand at Tk896 crore.
On the sectoral front, miscellaneous issues exerted the highest turnover contributing to over 22% of the daily total, while textile and banks followed with 12.4% and 9.1% turnover contribution respectively.
Most of the sectors generated negative returns, out of which general insurance, travel and leisure, and non-bank financial institutions topped the sectoral table of losers, suffering a 1.7%, 1.7%, and 0.9% decline in their respective market capitalisation.
Due to the sellers' hurry to book some profits or to reduce exposure in majority scrips, 282 scrips declined at the end of the day, against gains of 62 while 42 remained unchanged in the DSE.
The port city bourse, Chittagong Stock Exchange (CSE), also settled in the red territory.
