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Stocks plummet as demands fall

The benchmark index at the country’s premier bourse — Dhaka Stock Exchange (DSE) — experienced a sharp fall to hit three months’ low on Wednesday after two consecutive sessions of gain, agencies report.

The DSE key index, DSEX dropped 63.58 points or 1.33 percent to close at 4716.08 on the day. Of the 318 issues traded, 51 gained, 241 declined and 26 remained unchanged.

Shares worth Tk 308.90 crore changed hands at the DSE on Wednesday as against Tk 449.49 crore on Tuesday. The turnover at DSE reduced Tk 140.59 crore comparing to the previous session.

Observing the market situation, LankaBangla Securities said, “Stocks retreated sharply today as selling frenzy in Dhaka Stock Exchange continued to mar market resilience.”

The Dhaka bourse hit the three months’ low on the day while all the major sectors ended lower, with Bank, Real Estate and some other heavy weight stocks leading the slide, the leading stockbroker said.

The day’s top 10 losers at the DSE were 7th ICB Mutual Fund, Shurwid Industries, Imam Button, Premier Cement Mills, Asia Pacific General Insurance, Far East Knitting & Dyeing Industries, Standard Insurance, Aramit Cement, GPH Ispat and BD Welding Electrodes.

The top five turnover leaders at the DSE were Beximco Pharma, Lafarge Surma Cement, CVO Petrochemical Refinery, Saif Powertec and Brac Bank.

The key index at the port city bourse, CASPI lost 190.33 points to reach 14443.43 at close on Wednesday. Of the 248 issues traded, 30 advanced, 199 suffered loss and 19 remained unchanged.

The value of the traded issues at the Chittagong Stock Exchange (CSE) was Tk 20.97 crore on the day.

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