Dhaka stocks continue falling
PBC News: Dhaka stocks fell for the second consecutive day as investors remained cautious today ahead of Bangladesh Bank’s stance on monetary policy, which is likely to be announced on July 29.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), dropped 24 points, or 0.38 per cent to 6,379.67.
As the stock market is correlated with the monetary policy so it has impact on the stock market, a stockbroker said.
The market fell as investors fear that the central bank may squeeze banks’ investment scope in the stock market, he said.
The fear gripped the investors when the banking regulator sent letters to the scheduled banks to curb channeling of stimulus funds to the stock market
At the DSE, 153 stocks advanced today while 194 declined and 26 remained unchanged.
Turnover, another important indicator of the market, rose 2 per cent to Tk 1,462 crore today from the previous day.
Peoples Insurance topped the gainers’ list that rose 9.91 per cent followed by Safko Spinning, eGeneration, Global Heavy Chemicals, and Beach Hatchery.
Stock of SAIF Powertec traded mostly that worth Tk 64 crore followed by Baraka Patenga Power, Beximco Ltd, GPH Ispat and BATBC.
Tamijuddin Textile Mills shed mostly that fell 7.41 per cent followed by Baraka Patenga Power, Fu Wang Food, Popular Life Insurance, and Active Fine Chemicals.
The port city bourse also rose today. The CASPI, the general index of the Chittagong Stock Exchange, advanced 83 points, or 0.45 per cent, to 18,532.
Among 309 traded stocks, 114 advanced, 163 dropped and 32 remained the same.
