DSE index plunges to its 3yrs’ low

The Dhaka stocks continued to bleed to its three years’ low due to the thin participation of institutional investors.

Dhaka Stock Exchange's (DSE) benchmark index—DSEX—lost 52.03 points to 4,810.21 today. The last four day’s consecutive fall snatched 127.61 points.

Market insiders said the investors have been suffering from confidence crisis for a long time and the fall of the index under 5,000 mark mounted the crisis among them.

The confidence crisis came from the liquidity crunch in the banking sector, tussle between Grameenphone and the telecom regulator, and huge share selling from the foreign investors.

United Power Generation and Grameenphone was the top negative contributor to the index today with 14 points jointly from the prime index of the DSE.

Turnover, however, rose 2.12 per cent to Tk 327.81 crore.

Of the traded issues, 59 advanced, 271 dropped and 23 remained the same.

National Tubes topped the turnover list with share trading of Tk 24.13 crore.