Dhaka stocks trade slips below Tk 3 billion as slide continues

Trading starts on a positive note, but the index began losing points after midday

Trading in the Dhaka Stock Exchange (DSE) has dropped below Tk 3 billion as decline in both turnovers and index continued in the country’s premier bourse for a second straight day.

On Wednesday, the DSE registered Tk 2.94 billion in turnovers while key index points dipped by 38 points to 4,835.

The last time the stocks traded below Tk 3 billion was on Apr 29, registering Tk 2.91 billion.

On Wednesday, the benchmark index DSEX suffered a massive slide, shedding 150 points in a day.

On Thursday and the following working day, Monday, the DSE rebounded by racking up 119 points.

After the brief upsurge, the DSE saw a downturn in trade volume and key index points on Tuesday, losing 46.97 points at 4,874.

Trading on Wednesday started on a positive note and continued the trend until 12pm, but under selling pressure, the index began losing points.

With share prices of most companies declining on Wednesday, the banking, mutual fund, and food and allied sectors remained on top in terms of trading, as they did the previous day as well.

According to DSE data, of the 412 listed companies, only 68 rose in prices, 298 dropped while 46 traded in previous prices.

The banking sector accounted for Tk 521.6 million, or 19.26 percent, of total turnover, while food and allied traded shares worth Tk 327 million and mutual funds followed with Tk 30.9 million.

City General Insurance, First Bangladesh Fixed Income, and Magura Complex topped the gainers list at the close, while NRB Bank, Titas Gas, and BDWELDING lost the most.