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DSEX, the benchmark index of the Dhaka Stock Exchange, witnessed a sharp fall as it declined by 77 points or 1 per cent to settle at 7,140 points on Tuesday.
Two other indices also were in downward trend as the Shariah index – DSES – fell by 22 points to 1,556 points while the blue chip index – DS30 - fell by 23 points to 2,611 points at the Dhaka bourse.
However, the daily turnover increased slightly and stood at Tk 2,097 crore, up by Tk 56 crore from that of the previous day.
Among major sectors, Paper & Printing, NBFI and Life Insurance sectors experienced price appreciation while Ceramics, Tannery and Engineering sectors faced correction, UCB Stock Brokerage said in its daily market commentary.
Meanwhile, EBL Securities, in its daily market commentary, said that price correction of the heavyweight shares - like Beximco Pharma, Grameenphone, Olympic Industry, BATBC, Square Pharma - dragged markets in the red on Tuesday.
At the same time, the tussle between Bangladesh Bank and the Bangladesh Securities and Exchange Commission (BSEC) over utilising unclaimed dividends prompted the investors to sell shares to avoid further fall in share prices.
The Bangladesh Bank on Monday told the stock market regulator that banks and non-bank financial institutions were not allowed to transfer unclaimed or unsettled dividends to the capital market stabilisation fund as per Bank Company Act, 1991.
Earlier on June 27, the BSEC published a gazette notification detailing the relevant rules, the Bangladesh Securities and Exchange Commission (Capital Market Stabilization Fund) Rules, 2021.
As per the rules, the fund will be governed by an 11-member board of governors, led by its chairman.
Primarily, the size of the fund would be over Tk 21,000 crore, depending on the size of unclaimed dividends of the listed companies.
On Tuesday, a total of 376 issues were traded at the DSE, out which, 52 advanced, 300 declined, and 24 remained unchanged.
On the sectoral front, Financial Institutions (14.71 per cent), Textile (11.31 per cent), and Engineering (10.81 per cent) issues were in most demand on the day.
Most of the sectors observed waning performance, out of which Jute (-4.4 per cent), Ceramic (-2.8 per cent), and Tannery (-2.4 per cent) observed the most corrections while Paper (1.8 per cent), Financial Institution (1.3 per cent), and Life Insurance (0.9 per cent) have exerted the positive returns on the bourse on the day.
Meanwhile, the port city bourse, Chittagong Stock Exchange (CSE), also ended in downtrend.
Selected indices (CSCX) and All Share Price Index (CASPI) declined by 101.5 points and 171.7 points respectively.
The turnover value stood at Tk 68 crore at the CSE. Of the 317 issues traded, 60 advanced, 227 declined, and 30 remained unchanged on the bourses.
