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The trading activity at the Dhaka Stock Exchange (DSE) on Monday continued to plunge with the turnover plunging to over eight-month low.
Analysts attributed the Omicron variant of Covid-19 to the slumping turnover.
Amid the sluggish mood, the benchmark DSEX index shed 38 points, or 0.55 per cent, to settle at 6,882, hitting a high of 6,929 and a high of 6,854. In two consecutive sessions, it lost 104 points.
The Shariah-based index DSES was down 7 points or 0.48 per cent to 1,460 and the blue-chip DS30 index fell 18 points or 0.72 per cent to 2,585.
The DSE turnover stood at Tk 6,966 crore. It is almost 40 per cent down over the previous session and the lowest since April 18, when it was Tk 602 crore.
“Investors stayed on the sidelines amidst fear over the impact of the new coronavirus strain ‘Omicron’ on the economy,” said EBL Securities in a note.
“Most of the investors favored sitting on cash ahead of year-end adjustments, also pushing the trading activity down. Moreover, investors’ participation may remain sluggish for a few trading sessions ahead due to the forthcoming IPO subscription of three companies,” it said.
Prime Minister Sheikh Hasina has urged all to remain vigilant against Omicron. The warning came from a cabinet meeting chaired by Hasina on Monday, according to Cabinet Secretary Khandaker Anwarul Islam.
The omicron coronavirus variant, reported in more than 60 countries, poses a “very high” global risk, with some evidence that it evades vaccine protection but clinical data on its severity remain limited, said the World Health Organisation.
Investors were mostly active in the bank, pharmaceuticals and financial institutions as the sectors together accounted for around 40 per cent of the total turnover.
Almost all the sectors led by jute, miscellaneous, and ceramic faced the most selling pressure.
After a two-day pause, Sena Kalyan Insurance Limited (SKICL) hit nearly the upper limit circuit at 10 per cent, making it the top gainer. It had a monster run for the 23 rd day in a row after the debut on the stock exchange on November 7.
Other top gainers are GSP Finance, Rahim Textile, Eastern Lubricants, Sonali Paper, Provati Insurance and Reckit Benkiser.
The worst losers included Desh Garments, AMCL ( Pran), Northern Insurance, Bangas, Anlima Yarn, BD Lamps and Fu-Wang Ceramics.
