Biz-Econ

Stocks tumble on panic sales

Stocks fell sharply on Sunday with turnover remaining sluggish as investors went on panic-driven sell-offs.  Stock trading resumed with a dismal note in the morning which continued till closure of the session.DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 4,728.13, after falling 53.23 points or 1.11 per cent.  The two other indices also saw steep fall. The DS30 index, comprising blue chips, dropped 21.30 points or 1.17 per cent to finish at 1,794.69. The DSE Shariah Index (DSES) shed 13.93 points or 1.21 per cent to end at 1,135.79.Trading at DSE remained sluggish as it stood at only Tk 3.38 billion, which was 6.10 per cent lower than the previous session’s Tk 3.61 billion. Losers outpaced gainers, as out of 318 issues traded, 231 declined, 60 advanced and 27 remained unchanged on the DSE trading floor. Lafarge Surma Cement dominated the day’s turnover chart with shares of Tk 230 million changing hands followed by Beximco Pharma, Mozaffar Hossain Spinning Mills, GP and Far Chemicals.  LR Global Mutual Fund One was the day’s best performer, posting a rise of 8.19 per cent while Matin Spinning was the day’s worst loser, plunging by 9.95 per cent.The port city bourse Chittagong Stock Exchange (CSE) closed lower with its Selective Categories Index – CSCX – losing 108.93 points to end at 8,804.27.  Losers beat gainers 178 to 38, with 23 issues remaining unchanged on the port city bourse that traded 10.79 million shares and mutual fund units with a value of Tk 337.74 million. -FE