DSE key index plunges to three and half-year low

Shares on Dhaka Stock Exchange nosedived 78 points sending the key index to its three and half-year low of 4,419.82 points.

Market insiders said general investors and institutional investors are not investing money due to the lack of confidence on the stock market.

Moreover, foreign investors are also selling shares more than that of the purchase because they fear to devalue the local currency against the Greenback.

So, the stocks bleeds and investors are seeing to loss of their stock value.

Turnover, another important indicators of the market, also fell 8.12 percent to Tk 281.56 crore.

Ring Shine Textiles topped the turnover list with its shares worth Tk 15.68 crore being traded, followed by Beacon Pharmaceuticals, Square Pharmaceuticals, Standard Ceramics, and Brac bank.

Of the traded issues, 35 advanced, 278 dropped, and 40 remained unchanged.

Meanwhile, Chittagong stocks also fell, with the bourse’s benchmark index, the CSCX, declining 144.63 points or 1.70 percent, to finish the day at 8,151.43.

Losers beat gainers as 173 securities declined, 35 advanced and 22 finished unchanged on Chittagong Stock Exchange.

The port city bourse traded shares and mutual fund units amounting to Tk 14.63 crore.