The Dhaka bourse’s benchmark index—DSEX—experienced a 50-point fall yesterday as retail investors went on a selling spree.
The DSEX dropped 51.32 points or 1.02 per cent to 4,946.67 as retail investors sold stocks and institutional investors remained on the sidelines, said a top official of a merchant bank.
The individual investors were bullish in the last few days after the appointment of the new commission at the Bangladesh Securities and Exchange Commission (BSEC), he said.
Some people were in a selling spree as the index bounced back almost to the pre-Covid-19 level, the merchant banker added.
Once companies disclose earnings of the September closing quarter, the real scenario of the impact of the pandemic will be realised, said a stock broker.
If the pandemic leaves a heavy impact on earnings, then the index will be hit hard, otherwise the market will bounce back, the stock broker added.
Turnover, another important indicator of the stock market, rose 8.54 per cent to Tk 965.35 crore yesterday.
Insurance stocks were on the green zone.
Northern Insurance topped the gainers’ list rising 9.96 per cent followed by Islami Insurance, Asia Insurance, Continental Insurance and Express Insurance.
Walton Hi-tech Industries was the most traded stock with shares worth Tk 50 crore changing hands followed by Beximco Pharmaceuticals, Beximco, Republic Insurance and Express Insurance.
Tung Hai Knitting was the stock that shed the most, dropping 9.75 per cent followed by Golden Son, Tallu Spinning, Khan Brother PP Woven Bag and C&A Textiles.
Of the 357 companies which witnessed trade, stocks of 65 advanced, 263 declined and 29 remained unchanged.
