Stocks tumbled today while the turnover of the market also dropped amid fears that the listed companies may perform badly in the days to come because of a gradual rise in raw materials’ prices.
The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), fell for the second consecutive day.
Today it plunged 64 points or 0.97 per cent from the previous day to end the day at 6,574.
The turnover, an important indicator of the market, hit Tk 532 crore, which is 4 per cent lower than the previous day’s Tk 557 crore.
The South Asian economy is now falling into a trouble, as the global prices of raw materials are rising at a time when freight cost already rose and port congestion is getting worse, said a merchant banker, preferring anonymity.
So the investors are preferring to keep money in hand instead of making new investments as they think the rising prices would hurt the listed companies’ performances also, he said.
At the day’s end, the DS30, the blue-chip index, and DSES, shariah-based index, lost 20 points and 11 points respectively.
At the DSE, 18 stocks advanced, 337 declined and 23 remained the same.
JMI Hospital topped the gainers’ list with a 9.85 per cent rise. Rn Spinning Mills, Heidelberg Cement, Global Heavy Chemicals also saw major gains.
LankaBangla Finance shed the most, dropping 3 per cent. CAPM IBBL Islamic Mutual Fund, eGeneration, Bangladesh Building Systems and Asia Insurance were among the heavy losers.
IPDC Finance became the most traded stock with shares worth Tk 54 crore changing hands followed by Beximco Ltd, LafargeHolcim Bangladesh, Genex Infosys and Bangladesh Lamps.
The Chittagong Stock Exchange (CSE) also fell today. The CASPI, the main index of the CSE, plummeted 145 points, or 0.74 per cent, to close the day at 19,349.
Of the 273 stocks traded, 26 rose, 219 fell, and 28 did not see any price movement.
