Dhaka stocks hit 56-month low

Bangla Tribune Desk
Published : 20:52, Jan 13, 2020 | Updated : 20:54, Jan 13, 2020

FILE PHOTO/Mehedi HasanThe country's prime bourse lost its market value by over 2 percent on Monday (Jan 13) due to selling pressure.
Investors were in a rush on the day for selling their shares to avoid further losses, market insiders said.
Key index of Dhaka Stock Exchange (DSE), DSEX closed at 4,123.48 points. It was the lowest level of the DSEX in 56 months since May 7, 2015, when the index was 4,122.
Meanwhile, broad index of Chittagong Stock Exchange (CSE), CASPI declined 239 points to close at 12,570 points.
Turnover in the Dhaka Stock Exchange, however, stood at Tk 2.86 billion during the session, which was Tk 2.6 billion in the previous session.
The trend of sell-off intensified while the capital market traders’ tension increased over the banks’ profitability amid the government move for bringing down the lending rates to single digits, analyst said.
They also observed that few other factors including liquidity crisis, aggressive bank borrowing by government, declining outstanding foreign portfolio investment, sluggish earning growth and poor payout ratio of listed companies, deepened the tension of investors.