Stocks slumped yet again as panic sell-offs marked the trading session yesterday, while institutional investors remained inactive despite investments from the Investment Corporation of Bangladesh (ICB). The benchmark general index of Dhaka Stock Exchange slumped 73 points, or 1.23 percent, to close at 5,899 points, while the selective categories index of Chittagong Stock Exchange lost 137 points, or 1.27 percent, to close at 10,593.
Khairul Hossain, chairman of ICB, said, “Market dropped as some big institutional investors adopted a wait-and-see policy.”
The ICB will go for big buying of shares from the next week, he added.
Meanwhile, the Bangladesh Fund has begun pumping money into the sagging stockmarket with the purchase of a lot of 50 shares of government-run Titas Gas.
Md Fayekuzzaman, managing director of the ICB, said, “This fund will play a good role to keep the market steady.” “We will buy good shares with sound fundamentals,” he said.
Banks lost 0.42 percent yesterday, while non-banks 1.63 percent, telecommunication 0.64 percent, pharmaceuticals 1.56 percent, and fuel and power 1.44 percent.
Stocks slumped yet again as panic sell-offs marked the trading session yesterday, while institutional investors remained inactive despite investments from the Investment Corporation of Bangladesh (ICB).
The benchmark general index of Dhaka Stock Exchange slumped 73 points, or 1.23 percent, to close at 5,899 points, while the selective categories index of Chittagong Stock Exchange lost 137 points, or 1.27 percent, to close at 10,593.
Khairul Hossain, chairman of ICB, said, “Market dropped as some big institutional investors adopted a wait-and-see policy.”
The ICB will go for big buying of shares from the next week, he added.
Meanwhile, the Bangladesh Fund has begun pumping money into the sagging stockmarket with the purchase of a lot of 50 shares of government-run Titas Gas.
Md Fayekuzzaman, managing director of the ICB, said, “This fund will play a good role to keep the market steady.” “We will buy good shares with sound fundamentals,” he said.
Banks lost 0.42 percent yesterday, while non-banks 1.63 percent, telecommunication 0.64 percent, pharmaceuticals 1.56 percent, and fuel and power 1.44 percent.
