• Tuesday, Jun 28, 2022
  • Last Update : 03:54 pm

Stocks fall on fears of second wave of Covid-19

  • Published at 12:33 am March 19th, 2021
dse-stock-exchange-mehedi hasan
File photo: A dejected stock investor looks at share prices on screen as DSE Mehedi Hasan/Dhaka Tribune

Many investors feared and went to sell-off shares amid obscure future due to soaring trends of Covid-19 infections

Coronavirus has taken stocks on a wild ride yesterday as investors seen cautious with the rising number of Covid cases. 

DSEX, the benchmark index of the Dhaka Stock Exchange, lost 82 points or 1.48 per cent during the session amid steady turnover. 

Many investors feared and went to sell-off shares amid obscure future due to soaring trends of Covid-19 infections, according to the daily market review of EBL Securities. 

Bangladesh has witnessed a jump in the daily Covid-19 infection rate, with 10.45 per cent of tests conducted in the previous 24 hours coming back positive.

The country recorded its highest daily caseload in over three months as the health authorities reported 2,187 fresh cases in the 24 hours to Thursday morning.

The last time daily Covid-19 cases crossed the 2,000-mark was on December 9 (2,159).

With the fresh infections, the number of all confirmed cases so far jumped to 564,939.

The country also logged in 16 more deaths from Covid-19 in the past 24 hours, taking the number of total fatalities to 8,624.

The Directorate General of Health has proposed for full lockdown in the wake of the rising number of Covid-19 patients in the country, said the EBL Securities market review.  

However, the stock market regulator assured that there is no such possibility of shutting the market like the 66-day recess last year, added the report.

The twin bourses were shut from March 26 to May 31 last year in line with the countrywide general shutdown to slow the spread of the coronavirus.

Beximco was the most traded stock yesterday with a turnover of Tk 82.4 crore, contributing 12 per cent of the total in Dhaka bourse. 

Aziz Pipes posted the highest gain of 9.98 per cent while Peoples Insurance Company lost the most, 7 per cent. 

Among the traded issues 29 gained, 239 declined and 92 remained unchanged during the week in Dhaka Stock Exchange. 

The Dhaka Stock Exchange currently has a market capitalisation of Tk 472,098 crore.

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