Stocks continued to decline yesterday with the benchmark index DSEX falling to almost nine-month low.
The market started positively, but succumbed to selling pressure in the later part of the day as political worry continued to hunt investors.
After rising around 25 points, the benchmark index DSEX was down almost 34 points or 0.8% to 4,397—its lowest since July 22 last year. It extended its losing streak for the fourth straight session.
The Shariah Index DSES ended 9 points or 0.9% lower to 1,075. The comprising blue chips DS30 lost 11 points or 0.7% to 1,685.
Chittagong Stock Exchange (CSE) Selective Categories Index, CSCX, clsoed at 8,177, shedding 78 points.
United Power Generation and Distribution Company Limited in its second trading day lost almost 5% to Tk128 per share, after jumping 87% in its first trading day.
The power generation company was also the most traded stocks for the second straight session with shares worth almost Tk29 crore changing hands.
Trading activities also declined as turnover at the Dhaka Stock Exchange stood at Tk300 crore, a decrease of more than 2% over the previous session.
Fuel & Power sector, led by the United Power Generation and Distribution Company, accounted for 23% of the total turnover.
All the major sectors closed red with textile sector leading the way by dropping 1.5%.
Fuel & Power came second by losing 1.4%, followed by pharmaceuticals 1%.
Telecommunication, food & allied, banks, non-banking financial institutions and cement also closed in red.
Lanka Bangla Securities said the day started in a positive mode after advancement in the country’s political scenario. However, the situation turned bad after announcement of a two-day long countrywide shutdown following a guilty verdict on a war crime case, it said.
Other top traded stocks included Lafarge Surma Cement, Shasha Denim, IFAD Autos, ACI Limited, ACI and Mobil Jamuna Limited Bangladesh.