Stocks continue to bleed investors
Out of 314 issues traded by far, only 5 of them advanced while 303 companies declined and 6 remained unchanged
The main index of the Dhaka Stock Exchange has gone below 4,000 points for the first time in five years due to the coronavirus fear.
DSE today witnessed a sharp fall of 3.88 percent or 160.64 points to close the day at 3969 points.
Earlier, benchmark indices took less than ten minutes to lose 5 percent this morning with 99 percent scrips in the red as coronavirus fears gripped the financial markets at the beginning of the week.
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Turnover, one of the major indicators of the market, of the 117723 total trades came to stand at Tk349.50 crore.
Out of 354 issues traded today, only 17 of them advanced, while 325 companies declined and 12 remained unchanged.
DSEX, the key index of Dhaka Stock Exchange (DSE), declined 5.07 percent or 209.53 points to stand at 3920.42 with a turnover of Tk266.90 crore at 1:15pm.
In the early hours of trading, the decline was 4.9 percent or 202.64 points with a turnover of Tk56.50 crore at 10:45am.
"New coronavirus cases in the country seems to be the worst negative news there nowadays. I couldn't find any average clients to put a buy order this morning so please halt the trading," Abdullah Al Mamun from Al Muntaha Securities Ltd told the Business Standard.
Coronavirus may affect the economy in terms of cost escalation, demand slowdown, and job losses as two new expats tested positive with COVID-19 yesterday.
However, the Chittagong Stock Exchange (CSE) also seemed to be getting a base at 5 percent low on the trading floor.
