Stocks at the country’s twin bourses continued to decline for the fifth straight session, breaking the major support level below 4,500-mark as investors went on a massive sell-off.
The prime index of Dhaka Stock Exchange, DSEX, shed 0.62% or 28 points to end at 4,484, hitting three and a half months low since November 18 last year.
DS30 comprising the blue chip stocks lost 0.43% or 7 points to end at 1,715 while the shariah index DSES declined by 0.97% or 11 points, finishing the session at 1,089.
“By the end of the session, DSEX settled at 4,484 points, with a 28-point loss as investors went for profit booking as well as dividend adjustment,” IDLC Investments said in its regular market commentary.
It also said the market participation decreased slightly, which caused a low turnover.
DSEX continued its downward trajectory for the fifth consecutive day yesterday backed up by the heavy sell-off of Grameenphone having the largest market capitalisation, said LankBangla Securities.
Other large caps like BATBC, Square Pharma, BATA Shoe, Beximco Pharma also followed the downward spiral, the stock broker said.
The daily turnover at the premier bourse stood at T440 crore, which was 4.8% lower than the previous session’s value of Tk460 crore. Among the issues traded, 96 securities gained price and 178 declined while 50 remained unchanged.
All the large cap sectors showed negative performances. Telecommunication, down by 4.67%, was the worst performer of the day followed by Food and Allied 2.86%.
Pharmaceuticals and Banks declined by 0.65% and 0.60% respectively.
Engineering lost 0.53% and Non-Banking Financial Institutions (NBFIs) 0.21%. Power closed flat in the red.
The banks’ overall capital increased by 3.62% in the last quarter of 2015 as asset quality of most banks improved. The banks’ capital stood at Tk75,352 crore on December 31, which was 10.84% of their total risk-weighted assets.