Stocks extended losses for the second consecutive day yesterday, sending the benchmark index to three-month low as investors were worried about the slowing economy.
The market moved between positive and negative heavily in early trading, making intra-day volatility around 60 points.
The Dhaka Stock Exchange benchmark index DSEX was down 63 around 40 points or 0.9% to 4,676—its lowest since July 14 this year.
The Shariah index DSES lost 12 points or 1.2% to 1,114.
The blue chip comprising index DS30 dropped 21 points or 1.3% to 1,766.
The Chittagong Stock Exchange Selective Category Index CSCX slid 77 points to 8,711.
Strong buying and selling pressure helped turnover cross Tk400-crore mark as the DSE turnover stood at over Tk400 crore, which is more than 31% higher over the previous session’s value.
KDS Accessories in its first trading day jumped 329% to over Tk85 a share on its offer value of Tk20 per share. It opened at Tk75 before reaching its peak at Tk93 and as low as Tk64.
KDS was also the most-traded stocks of the session and topped the liquidity chart with a turnover worth nearly Tk46 crore, making up 11% of the total DSE turnover.
Almost all sectors remained in negative territory except food and allied and pharmaceuticals, which gained marginally.
Cement was the worst sufferer tumbling more than 4%, driven by Lafarge Surma Cement dropping 6.7%.
Telecommunication also suffered heavy losses of almost 4%, led by Grameenphone, shedding 4.2%.
IDLC Investments said panic sale continued in the market, despite support from the buyers in early morning.
It said buyers were blown off by the massive supply of instruments as the session passed.
Lanka Bangla Securities said stocks saw significant weakness on the heels of the disappointing market sentiment.
“The markets went back to the risk off mode to safeguard their position amid such downfall in market.”