Dhaka stocks plunge despite circuit breaker on companies

Country’s premier bourse, Dhaka Stock Exchange (DSE), yesterday closed with downward trend, a day after the securities regulator imposed circuit breaker to boost the ailing capital market.

The broad index, DSEX closed at 3960.17 points yesterday, first working day of the week, with a fall of 14.79 points or 0.37 per cent.

Besides, two selective indices, Blue Chip index, DSE30 and Shariah index, DSES also went down 4.21 points and 2.76 points to settle at 1321.59 points and 916.67 points respectively.

Trading on bourses took place for 3 hours - 10:30am to 1:30pm as the bourses curtailed trading time by one hour due to anxiety over coronavirus pandemic.

The presence of investors on the trading floor was also thin as the bourses discourage clients for rushing in the brokerage house and encourage more for trading through mobile apps and other internet based devices.

To curb the free-fall of stock prices, the Bangladesh Securities and Exchange Commission imposed circuit breaker on Thursday last.

Under the new circuit breaker system, price of no security will be allowed to hit below its average closing price of five preceding days.

Market turnover, another crucial indicator, stood at Tk 1.45 billion, which was lower over previous day’s mark of Tk 4.91 billion.

On the DSE trading floor, a total number of 27,329 trades were executed in today’s trading session with a trading volume of 47.72 million securities.

Losers took a strong lead over gainers as out of 347 issues traded, 25 securities gained price while 209 declined and 25 remained unchanged.

The market-cap of the DSE also fell to Tk 3,102 billion, from Tk 3,107 billion in the previous session.

Despite imposition of circuit breaker, jittery investors dumped their holdings amid mounting fears over coronavirus outbreak, analysts said.

The top 10 gainers were Exim Bank first Mutual Fund, ILFSL, Aziz Pipes, ACI Formulation, PHP First Mutual Fund, Monno Ceramics, FAS Finance, ACI, Kay and Que and Pragati Insurance.

Monno Ceramic topped the turnover chart followed by Square Pharma, JMI Syringe, Bank Asia, Aziz Pipes, Monno Stafflers, Mercantile Bank, Kay and Que, Dutch-Bangla Bank and Premier Bank.

The top 10 losers were BSRM, Asia Pacific General Insurance, Uttara Finance, Makson Spinning, Khan Brothers PP Woven, Central Insurance, Tosrifa Industries, Pacific Denims, BD Welding and GQ Ball Pen.

On the other hand, port city bourse, Chittagong Stock Exchange (CSE), also closed at green overcoming the bearish streak of previous day.

CSCX and CASPI increased by 31.40 points and 52.97 points to stand at 6777.69 points and 11187.43 points respectively.

At the CSE, a total of 3,127,021 shares and mutual fund of 205 companies were traded. Of which, 44 issues advanced while 0 declined and 161 issues remained unchanged.

 

Dhaka stocks plunge despite circuit breaker on companies

Countrys premier bourse, Dhaka Stock Exchange (DSE), yesterday closed with downward trend, a day after the securities regulator imposed circuit breaker to boost the ailing capital market. The broad index, DSEX closed at 3960.17 points yesterday, first working day of the week, with a fall of 14.79 points or 0.37 per cent. Besides, two selective indices, Blue Chip index, DSE30 and Shariah index, DSES also went down 4.21 points and 2.76 points to settle at 1321.59 points and 916.67 points respectively. Trading on bourses took place for 3 hours - 10:30am to 1:30pm as the bourses curtailed trading time by one hour due to anxiety over coronavirus pandemic. The presence of investors on the trading floor was also thin as the bourses discourage clients for rushing in the brokerage house and encourage more for trading through mobile apps and other internet based devices. To curb the free-fall of stock prices, the Bangladesh Securities and Exchange Commission imposed circuit breaker on Thursday last. Under the new circuit breaker system, price of no security will be allowed to hit below its average closing price of five preceding days. Market turnover, another crucial indicator, stood at Tk 1.45 billion, which was lower over previous days mark of Tk 4.91 billion. On the DSE trading floor, a total number of 27,329 trades were executed in todays trading session with a trading volume of 47.72 million securities. Losers took a strong lead over gainers as out of 347 issues traded, 25 securities gained price while 209 declined and 25 remained unchanged. The market-cap of the DSE also fell to Tk 3,102 billion, from Tk 3,107 billion in the previous session. Despite imposition of circuit breaker, jittery investors dumped their holdings amid mounting fears over coronavirus outbreak, analysts said. The top 10 gainers were Exim Bank first Mutual Fund, ILFSL, Aziz Pipes, ACI Formulation, PHP First Mutual Fund, Monno Ceramics, FAS Finance, ACI, Kay and Que and Pragati Insurance. Monno Ceramic topped the turnover chart followed by Square Pharma, JMI Syringe, Bank Asia, Aziz Pipes, Monno Stafflers, Mercantile Bank, Kay and Que, Dutch-Bangla Bank and Premier Bank. The top 10 losers were BSRM, Asia Pacific General Insurance, Uttara Finance, Makson Spinning, Khan Brothers PP Woven, Central Insurance, Tosrifa Industries, Pacific Denims, BD Welding and GQ Ball Pen. On the other hand, port city bourse, Chittagong Stock Exchange (CSE), also closed at green overcoming the bearish streak of previous day. CSCX and CASPI increased by 31.40 points and 52.97 points to stand at 6777.69 points and 11187.43 points respectively. At the CSE, a total of 3,127,021 shares and mutual fund of 205 companies were traded. Of which, 44 issues advanced while 0 declined and 161 issues remained unchanged.