Bangladesh stocks suffer biggest slump in 10 months

Bangladesh stocks have started the trading week with a huge slump driven by sell-offs. The session opened with selling pressure amid profit-booking that continued throughout the day with no reversal.

Senior Correspondentbdnews24.com
Published : 7 Feb 2021, 11:50 AM
Updated : 7 Feb 2021, 01:52 PM

It came as Bangladesh kicked off the nationwide COVID-19 vaccination drive.

The DSEX, the main index of the Dhaka Stock Exchange, lost 143 points or 2.5 percent to close at 5,504 points on Sunday.

The move is the biggest since Mar 18, 2020 when the index fell 4.47 percent. The gauge has a similar or greater loss four times in the past year.

Meanwhile, the Chattogram bourse's index CASPI fell by 414 points or 2.53 percent to 15,916 points.

The DSEX began to decline within five minutes of the start of trading on the DSE and the downturn continued until the end of the day, with a similar situation transpiring on the Chattogram Stock Exchange.

The share prices of 353 companies and mutual fund units dropped on the Dhaka market, which saw a turnover of Tk 7.71 billion on Sunday.

The capital market has been trending downward for the last two weeks, with DSEX losing a total of 188 points during that time.

Meanwhile, the turnover in the CSE increased by Tk 110 million as Tk 44 million worth of shares and mutual funds were exchanged.

As the mass vaccination campaign began across the country, the shares of Beximco Pharma, the importer of the vaccine in the country, dropped around 8 percent.