Stocks plunge as bank sees a sharp fall
Indices of both stock exchanges saw a sharp decline today as the banking sector saw a downfall due to classified loan surges.
On Tuesday, the central bank released data on classified loans and said bad loans surpassed Tk100,000 crores at the end of September this year.
The Dhaka Stock Exchange's (DSE) benchmark index DSEX lost 95 points or 1.35% and closed at 6,917. The blue-chip index DS30 also fell 1.10% to 2,631 at the end of Wednesday's trading session.
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The turnover of the DSE also declined 14% to Tk1,128.48 crore compared to the previous day.
Following the downward trend, 259 companies' share prices declined, while 75 increased and 31 remained unchanged.
Besides, the port city bourse Chattogram Stock Exchange's key index CASPI also dropped 247 points to close at 20,268.
Meanwhile, One Bank grabbed the top position in the turnover chart, which was followed by Beximco and IFIC Bank at the DSE.
Shurwid Industries was the top gainer during the period, whereas LR Global Mutual Fund One was the worst in the same period.
