Dhaka stocks witnessed a plunge on Sunday, after gaining for two sessions, as investors were anxious about the economic uncertainties stemming from the ongoing unrest centring the student protests in the country, market operators said.
DSEX, the key index of the Dhaka Stock Exchange, decreased by 104.66 points, or 1.96 per cent, to close at 5,229.26 points on the day, after gaining 53.46 points in the previous session.
Market operators mentioned that investors were already feeling uneasy due to the ongoing economic struggles, including inflation and foreign exchange decline in the country.
They said that investors were cautious and keeping a close eye on the market since there were no clear signs of a lasting rise in share prices. They added that the current trading at the Dhaka Stock Exchange shows this economic downturn.
On Sunday, the key index began the session with a drop and continued to fall until the end of the session to settle in the negative trajectory.
The ongoing countrywide unrest over the student protests regarding their one point demand have made investors worried about the market situation, market operators said.
Additionally, the circuit breaker, which limits how much the market can move, is discouraging investors from trading.
The total turnover on the Dhaka bourse also witnessed a dive on the day, as investors reduced trading activities.
The total turnover on the Dhaka bourse was Tk 207.83 crore compared with that of Tk 552.75 crore in the previous session.
The country faced an internet blackout from July 18 to 24, stopping digital trading.
Broadband internet was restored on the evening of July 24 and mobile internet came back on July 28. However, users are still complaining about slow internet speed, which is affecting digital trading.
Of the 397 issues traded on Sunday, 6 advanced, 372 declined and 19 remained unchanged.
The DSE Shariah index decreased by 21.52 points, or 1.84 per cent, to close at 1,143.85 points on the day.
The DS30 index lost 41.82 points, or 2.20 per cent, to finish at 1,859.03 points. On the sectoral front, food and allied issues exerted the highest turnover, followed by the cement and pharmaceutical shares.
Unilever Consumer Care topped the turnover chart on the day with its shares worth Tk 48.62 crore changing hands.
Heidelberg Materials Bangladesh, Square Pharmaceuticals, Express Insurance, British American Tobacco Bangladesh, Grameenphone, Techno Drugs, Beximco Pharmaceuticals, Midland Bank and Shyampur Sugar Mills were the other turnover leaders.