Desperate sell-off drags DSE index down by one year
Due to increase in commodity price and exchange rate hurting investors' sentiment, the stock market has faced a sharper and deeper correction on Wednesday.
Desperate sell-offs across the board dragged the DSEX, the broad-based index of the Dhaka Stock Exchange (DSE), 1.46% down to 6,309 points – the lowest since 18 July 2021 – while wrapping up Wednesday's bearish show.
Only 42 scrips in the premier bourse weathered the storm while 310 declined and 29 remained unchanged.
Keep updated, follow The Business Standard's Google news channel
According to stockbrokers, the confidence of investors has been shaky since 10 May when the DSEX started to move downward.
To stop the downward trend, the stock market regulator arranged an emergency meeting with the Investment Corporation (ICB) on Tuesday and requested them to boost investment in the market.
Besides, the ICB also sought low-cost fund from the DSE as deposit through the regulator.
The daily turnover in the DSE also decreased by 2% to Tk762.93 crore on Wednesday.
Chittagong Stock Exchange also faced a similar dominance of sellers on the board, while the all-share price index fell 211 points to close at 18,533.
