FE Report
Share
prices continued to slide for tenth consecutive session on Dhaka Stock
Exchange and Chittagong Stock Exchange with lower turnover as ongoing
sluggish market trend and lack of institutional participation sapped the
retail investors.
In
the last ten consecutive trading sessions after the Eid vacation, DGEN
plunged 354 points though it was advanced only 3 points Thursday last.
Market
analysts said the current depressed market outlook and lack of
institutional participation frustrated the retail investors.
The
market started with a positive note, gaining almost 40 points within
first 50 minutes of trading. However, rest of the session it fell
steadily amid modest fluctuation and finally ended 29 points lower.
The benchmark general index of the Dhaka Stock Exchange (DGEN) closed at 4,223.69 points, losing 29.70 points or 0.69 per cent.
The
broader All Shares Price Index (DSI) slipped 24.62 points or 0.68 per
cent to 3,571.24. The DSE-20 Index comprising blue chips also lost 8.03
points or 0.23 per cent to close at 3,422.27.
The
CSE Selective Category Index (CSCX) lost 63.48 points to close at
8,219.88. The CSE All Shares Price Index (CASPI) plunged 35.70 points to
11,031.73 while CSE-30 Index decline 98.32 points to close at
12,907.87.
"The
market plunged as the investors became frustrated amid current depressed
outlook of the market while the institutional investors remained
inactive," said a stock broker.
Akter
H Sannamat, managing director of Union Capital identified two major
reasons for the current sluggish trend of the market-the recent decision
of closing omnibus accounts within short time and subscription of four
IPOs (Initial Public Offering) within a month.
He
said many government employees and agency officials who traded shares
under the omnibus accounts, now closing their accounts by selling shares
as they have to expose after the separation of omnibus accounts to BO
accounts, which put negative impact in the market.
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