Indices plunge as BB to inspect bank investment in capital market
At the end of the Wednesday trading session, DSEX – the benchmark index of the Dhaka Stock Exchange (DSE) – decreased by 0.08% to close at 6,878
Shares on both the stock exchanges in the country plunged on Wednesday as the central bank has decided to investigate bank investment in the capital market.
Earlier, the Bangladesh Bank claimed that it had information on misuse of stimulus packages by banks and other manufacturing companies. The central bank came to know that money provided under the stimulus packages was invested in the capital market and unproductive sectors.
At the end of the Wednesday trading session, DSEX – the benchmark index of the Dhaka Stock Exchange (DSE) – decreased by 0.08% to close at 6,878 and the blue-chip index also lost 0.15% points to stand at 2,459.
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The port city bourse Chittagong Stock Exchange's (CSE) key index CASPI dropped by 7.57 points to settle at 20,057 on Wednesday.
Shares of 374 companies were traded on the DSE on the day, 196 of which declined, 152 advanced and 26 remained unchanged.
The turnover at the premier bourse declined by 7% to Tk2,507 crore, compared to the previous year.
EBL Securities said in its daily market review, the market started off with an upward momentum but profit-taking tendency in the later session made an impact on the stock market and the market observed a slight correction to end in the red trajectory.
Moreover, a moderate correction was aggravated as the market had remained bullish for the last few weeks.
On the sectoral front, non-banking financial institution sectors contributed 13.56% in the total turnover, followed by general insurance 13.10% and textile 13.01%.
Investors lost price in most sectors, out of which travel lost 2.1%, IT 1.6% and ceramics lost 1.5% price.
Meanwhile, non-banking financial institutions gave the highest 2.5% return to the investors.
CVO Petrochemical topped the gainers' list with a 10% increase in its share price, followed by South Bangla Agriculture Bank and IPDC Finance.
HR Textile was the worst share on Wednesday, which lost 5.56%, followed by CNA Textile and Shurwid Industries Limited.
