& çâÌæÚUæð´ ·¤è ¥ôÚU Îð¹Ùæ ÁæÚUè ÚU¹ð´ ¥ÍæüÌ ¥ÂÙð ÜÿØ ÂÚU ŠØæÙ ÚU¹ð´Ð ãæÚU Ù ×æÙð´, €UØô´ç·¤ ·¤æ× ·¤ÚUÙð âð ¥æÂ·¤ô ©gðàØ ·¤è Âýæç# ãôÌè ãñ ¥õÚU ÁèßÙ ·¤æ ¹æÜèÂÙ ÎêÚU ãôÌæ ãñÐ ÖÜð ãè ÁèßÙ ×ð´ ç·¤ÌÙè Öè ·¤çÆÙæ§ü €UØô´ Ù ¥æ°, çÁ™ææâæ ¥õÚU ©ˆâæã ÕÙæ° ÚU¹ð´Ð ŠØæÙ ÚU¹ð´, ÜÿØ ã×ðàææ ¥æÂ·Ô¤ Âæâ ãôÌð ãñ´ çÁ‹ãð´ ÂæÙð ·Ô¤ çÜ° ÂýØæâ ¥æÂ ·¤Öè Öè àæéM¤ ·¤ÚU â·¤Ìð ãñ´Ð

Storm clouds gather over DSE

Investors left high and dry as index falls for 12th session

Ahsan Habib
DSEX, the benchmark index of the Dhaka Stock Exchange, continued to plummet for the twelfth day, its longest losing streak yet, with investors losing more than Tk 17,204 crore thus far.
In the past 12 days, the index saw 370.49 points knocked off; yesterday, it shed 68 points to end the week at 5,443 points - the lowest since June 4 last year.
Launched in January 2013, DSEX’s longest losing streak before this was in June 2014, when it declined for nine days straight.
The bear run comes at a time when the DSE seems fortified by the official entry of the Shanghai Stock Exchange and Shenzhen Stock Exchange as its strategic partner.
The two Chinese bourses have offered to usher in radical technological upgrades and a host of new products and services, so, in theory, Dhaka stocks should be on a bull run.
Market insiders blamed the sharp fall on the massive sell-off by foreign investors upon fears that the local currency may depre-
ciate further due to the growing current account deficit.
In the first nine months of the fiscal year, the current account deficit hit an all-time high of $7.08 billion. At this point a year earlier, the deficit was $1.37 billion, according to data from the Bangladesh Bank.
Since Bangladesh's current account deficit is widening, the taka is bound to depreciate further.
"So, foreign investors are taking their profits now," said the
head of portfolio management of a merchant bank requesting anonymity.
Weak declaration from the large-cap companies is another reason behind the DSE's current bear run, said Mostaque Ahmed Sadeque, president of the DSE Brokers Association.
The capital market witnessed a sharp fall with no sign of reversal, said EBL Securities. Given the upcoming national budget announcement, risk-averse inves-
tors adopted a wait-and-watch policy, it added.
Turnover, another important indicator of the market, soared 24.8 percent to Tk 492.79 crore, with 11.92 crore shares and mutual fund units changing hands on the DSE.
Of the traded issues, 44 advanced, 254 declined and 38 closed unchanged on the premier bourse.
Intraco Refueling Station, which made its debut on the
premier bourse yesterday, dominated the turnover chart with its transaction of 96.60 lakh shares worth Tk 44.30 crore. It was followed by BSRM, Western Marine Shipyard, United Power Generation and Beximco.
Queen South Textiles was the day's best performer, posting a gain of 9.80 percent, followed by SEML Lecture Equity Management Fund, SEML IBBL Shariah Fund and MBL IstMutualFund.Prime Islami Life Insurance was the day's worst loser, shedding 6.36 percent followed by Modern Dyeing, Progressive Life Insurance and Jute Spinners.
Among the major sectors, financial institutions lost 1.78 percent, banks 1.41 percent and pharmaceuticals 1.13 percent. On the other hand, no sector gained yesterday.
Chittagong stocks also fell yesterday with
the bourse's benchmark index, CSCX, declining 128.32 points, or 1.22 percent, to finish the day at 10,159.66 points.
Losers beat gainers as 179 stocks declined and 26 advanced, while 20 finished unchanged on the Chittagong Stock Exchange.
The port city bourse traded 1.20 crore shares and mutual fund units worth H< 51.46 crore in turnover.