Stocks plunge over investors sale pressure

Equity indices of the stock exchanges plunged amid investors selling pressure in the first one-and-half-hour trading session on Wednesday. 

Market insiders said, "Most of the investors' selling shares, while they observed that in June closing companies showed poor performance and declared lower dividends."

DSEX, the key index of Dhaka Stock Exchange (DSE) dropped 33.86 points or 0.69% to settle at 4,834 till 11:30 am.

Moreover, the Shariah-based DSES index fell by 9.74 points to 1,093 and the blue-chip index DS30 lost 12.91 points to 1,662

Turnover, however, on the DSE trading floor rose by 13% to Tk440.30 crore in the corresponding period.

Out of the 348 issues traded during the same time frame, DSE had 105 gainers against 184 losers, while prices of 59 scrips remained unchanged. 

Eastland Insurance Company Limited was the most traded stock till filing of this report with shares worth Tk183 million changing hands, closely followed by Rupali Insurance Company Limited, Global Insurance Company Limited, Sandhani Life Insurance Company Limited, Federal Insurance Company Limited, and Peoples Insurance Company Limited.

Meanwhile, the benchmark index CASPI at the Chittagong Stock Exchange (CSE) lost 70.89 points to 13,829. 

Of the total 198 issues traded till then, 60 gained, 101 declined, and 37 issues remained unchanged with Tk8 crore in turnover.