Home Correction trading Stocks fall amid trade disruption

Stocks fall amid trade disruption


All major indices in Bangladesh fell yesterday after a mistake that saw the withdrawal of the circuit breaker for all stocks on the Dhaka Stock Exchange (DSE) delay the start of the trading session.

The start of the trading session was delayed by an hour and a half as the exchange lifted the circuit breaker for all stocks instead of 70 companies which had reported earnings a day earlier, the exchange said in a press release. hurry.

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Currently, companies listed on the country’s two stock exchanges are allowed to go up a maximum of 10% and down a maximum of 2% in a single day. But the day after a corporate disclosure, no price cap is applied.

The interruption prompted the DSE to extend the trading time by 15 minutes. Thus, the market closed at 2:30 p.m. yesterday, instead of the usual 2:15 p.m.

Still, the DSEX, the premier stock exchange’s benchmark, fell 43 points, or 0.68%, to close at 6,334.

The DS30, the blue chip index, fell 0.90% to 2,245 while the DSES, the Sharia-based index, fell 0.90% to 1,389.

Of the stocks, 44 advanced, 91 declined and 231 remained unchanged. Revenue plunged 24% to Tk 826 crore.

The three-day winning streak ended as cautious investors booked profits on quick-gain issues amid revised trading hours, brokerage International Leasing Securities Ltd said in its daily review of the market.

Among the sectors, general insurance increased by 1.8%, ceramics by 0.7% and information technology by 0.5%.

The services sector saw a correction of 2.7 percent, while the jute sector fell by 2.2 percent.

Navana Pharmaceuticals leads the list of winners, up 78%. Chartered Life Insurance, Eastern Cables, Hakkani Pulp and Bangladesh National Insurance jumped more than 8%.

The Agricultural Marketing Company (Pran) suffered the biggest drop, with a drop of 11%. BDCOM Online, Rangpur Foundry, Indo-Bangla Pharmaceuticals and JMI Hospital Requisite Manufacturing were also among the major losers.

Navana Pharmaceuticals was the most traded stock, with its shares worth Tk 65 crore traded. Beximco Ltd, Anwar Galvanizing, Orion Pharma and Sea Pearl Beach Resort & Spa also recorded strong sales.

The Caspi, the Chittagong Stock Exchange’s all-stock price index, fell 86 points, or 0.46%, to end at 18,692.

Of the issues traded on the port city’s stock exchange, only 46 advanced, 62 fell and 121 showed no price movement.