Panic sell: Stocks slump in biggest single-day drop in 6 years
Six years ago, the key index DSEX witnessed a massive plunge amid investors’ panic-driven sales due to the fear of the coronavirus impact.
The Dhaka stock market suffered its sharpest single-day decline in six years today (8 March), with the benchmark index DSEX losing 231 points amid fears of energy supply uncertainty linked to the United States–Israel war on Iran.
Of the traded stocks, 95% or 371 stocks saw price decline amid sell-offs, only 10 stocks price advanced and 9 stocks price remained unchanged.
At the end of the trading session, DSEX, the benchmark index of the Dhaka Stock Exchange (DSE) lost 231 points or around 4.42% closed to 5,008 points, which is the highest single-day fall since March 2020.
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Six years ago, the key index DSEX witnessed a massive plunge amid investors' panic-driven sales due to the fear of the coronavirus impact.
Meanwhile, the DSE's shariah index fell 3.36% or 35 points to 1,013 points and DS-30, the blue-chip index fell 4.55% or 91.53 points to 1,919 points.
On 3 March, stocks also suffered as investors' continued sell-offs and DSEX lost 208 points. With that loss last week, DSEX lost 359 points or 6.42%, the DSE data showed, as escalating geopolitical tensions in the Middle East rattled investor confidence and triggered broad-based selling.
