Stocks return to the red

Posted on October 24, 2011

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Most stocks on the Dhaka Stock Exchange returned to the red Monday a day after owners of commercial banks decided to launch a Tk 5,000 crore fund in an effort to give financial support to the stockmarket.

In a complete reversal of the steep uptrend in the past two trading days, the DSE general index showed a 180-point decline at the end of trading hours.

Of the issues traded, 242 declined, only 13 gained while one remained unchanged.

Total trade was 1,15,498 and trade value was Tk 419.52 crore.

After resumption of the day’s trading at 11:00am, the index saw a decline in the first five minutes. In next five minutes, the day’s highest peak was recorded at 5,680 points.

The index spent the rest of the day sliding continuously with bouts of several minor recoveries.

Stocks gained on the previous two trading days – Thursday and Sunday – sending a sign of recovery from persisting downtrend over the several weeks that triggered protests by the investors.

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Posted in: Business