DSEX crashes to 2-month low amid massive sell-off
The day’s trading reflected a complete dominance of the bears, with a staggering 355 issues declining compared to only 14 that managed to advance, while 18 remained unchanged.
The country's premier bourse, the Dhaka Stock Exchange (DSE), witnessed a massive drop today (24 August), with the benchmark index crashing to a two-month low.
A pervasive bearish sentiment left almost all traded scrips in the red, while trading volume dried up to its lowest level in over four and a half months.
The benchmark index, DSEX, plummeted by 78 points, or 1.37%, to settle the session at 5,643 — the lowest level recorded in the last two months.
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The blue-chip index, DS30, followed a similar trajectory, falling 14 points to settle at 2,130.
The day's trading reflected a complete dominance of the bears, with a staggering 355 issues declining compared to only 14 that managed to advance, while 18 remained unchanged.
Investor participation also cooled significantly, as daily turnover on the DSE dropped by 15% to stand at Tk601 crore. This marks the lowest trading volume in the last four months and 17 days, as cautious investors preferred to stay on the sidelines amidst the prevailing uncertainty.
The sustained sell-off resulted in a substantial erosion of the market's total valuation. The DSE's market capitalisation declined by Tk4,600 crore in a single session, dragging the total market value back below the psychological threshold of Tk7 lakh crore.
