DSEX dips below 4,000-mark

Bangla Tribune Desk
Published : 17:00, Mar 15, 2020 | Updated : 17:02, Mar 15, 2020

File photo shows a general view of the Dhaka Stock Exchange building.The key index of Dhaka Stock Exchange (DSE), DSEX, on Sunday (Mar 15) dipped below 4,000 points mark for the first time in five years as coronavirus crisis deepened globally.

DSEX closed at 3969.31 points after losing 160.64 points or 3.88% during the session.

The key index of DSE lost 209 points in just 15 minutes after the bourse began trading.

Daily turnover in the Dhaka bourse stood at Tk 3.73 billion during the session, which was Tk 4.09 billion in the previous session.

Among the traded issues 10 gained, 338 declined and seven remained unchanged during the session in Dhaka Stock Exchange.

The market capitalization at Dhaka bourse dropped Tk 102.49 billion in the session.

Market insiders said that the panicked investors had lost confidence about the market based on coronavirus outbreak threatening more disruptions to businesses and the world economy, which already affected global stock markets.

Macroeconomic factors such as lowering credit and deposit growth in the private sector, expecting inflation, and rising public debt from the banking sector had also led the market downturn, they added.

Market insiders and experts said as the World Health Organization (WHO) described the coronavirus outbreak as a pandemic, a section of international buyers informed the Bangladeshi apparel exporters that they would reduce their existing orders by 15-30% due to this outbreak. Hence, coronavirus seems to be a major risk for the economy and capital market.

On the other hand, the Chittagong Stock Exchange (CSE) also registered loss at the end of the session. All Share Price Index, CASPI declined by 489 points.