DSEX hits 14-month low as panic continues
Amid the macro-economic turbulence Dhaka-Chattogram stocks are in a free fall.
DSEX, the broad-based index of the Dhaka Stock Exchange (DSE), hit a 14-month intraday low of 5,963 at 12pm Thursday (28 July).
Previously, the lowest was on 27 May 2021 when the index hit 5,984.
Stockbrokers said on top of the challenging macroeconomic outlook the market is lacking confidence in regulators.
The Bangladesh Securities and Exchange Commission (BSEC) recently has had several meetings with stakeholders, including some controversial high net worth individuals who are treated as the movers and shakers of stocks and also had proven track records of market manipulation.
However, nothing worked.
In the middle of the session on Thursday, only 15 scrips were found to have advanced, while 341 declined in the DSE. Most of the scrips had no buyer in the day's allowable price range.