Stock prices on both the bourses fell sharply in thin trade Monday as a bearish trend continued despite prediction of a positive economic outlook for the country, traders said.
They said almost all shares suffered huge losses pushing the benchmark indices down significantly during the day's trading.
The Dhaka Stock Exchange (DSE) benchmark index dipped 13.06 points or 0.77 per cent to close at 1677.43, while the Chittagong Stock Exchange (CSE) benchmark index fell 27.6 points or 0.80 per cent to close at 3339.45.
The DSE blue-chip index shed 12.63 or 0.79 cent to close at 1579.66, while that of CSE dropped 21.58 points or 0.68 per cent to close at 3130.64.
"It is surprising to see the downward trend of almost all the stocks although the country's economy is now in an upbeat trend," Chief Executive Officer (CEO) of the DSE Salahuddin Ahmed Khan told the FE while commenting on the market.
He said annual and half yearly reports of the listed companies are better than that of the previous years.
Besides, earning per share (EPS) of almost all the companies is better and the country is witnessing tremendous industrial growth, the DSE CEO said.
He, however, pointed out that the government decision on raising the interest rates on deposit and savings instruments might have a negative impact on the stock markets.
Market sources said several recent measures against the institutional investors by the Securities and Exchange Commission (SEC) might have resulted in the outflow of fund from market.
Sonar Bangla Insurance rose 12.50 per cent to close at Tk 81per share and become the topmost gainer of the day.
Paper Proc lost 10 per cent to close at Tk 9.0 per share to become the topmost loser of the day.
Of the total 172 issues traded in the DSE, 31 gained, 110 declined and 31 remained unchanged, while in the CSE, 14 issues advanced, 48 fell and six remained unchanged out of 68 traded issues.
Total turnover at the DSE stood at Tk 141.71 million on Monday's trading against Tk 138.03 million of the previous day.
The CSE's total turnover stood at Tk 46.40 million against Tk 33.98 million of the previous day's trading.