Stocks nosedive due to second wave of the pandemic

The country's stock market nosedived today by 1.76 per cent due to the fear of deterioration of the pandemic situation.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), crashed 94 points to stand at 5,278 today.

At the DSE, only 11 stocks rose while 257 dropped and 79 remained unchanged.

Stock market analysts say the index fell as investors are fearing to see the second wave of the pandemic which may impact the economy.

Already, the government announced some restrictions on people's movements and businesses activities, so it would impact the profits of the listed companies, they added.

Turnover, an important indicator of the stock market, plunged by 11.3 per cent to Tk 560 crore.