Stocks continued to decline for the second straight session yesterday with the benchmark index DSEX falling to nearly four months low.
The DSEX was down 41 points or 1% to 4,589 -- its lowest since July 8 this year.
With the losses, the index lost a total of almost 263 points within 18 trading sessions of this month.
The Shariah index DSES dropped over 8 points or 0.8% to 1,101.
The blue chip comprising index DS30 lost 15 points or 1% to 1,735.
The Chittagong Stock Exchange Selective Category Index CSCX shed 71 points to settle at 8,530.
The bottom-line is that trading activities took a jolt as the DSE turnover came down below Tk300 crore after six and a half months.
It stood at Tk297 crore, which was over 28% lower over the previous session’s value and lowest since April 12 this year.
Stock prices fell across the board because the market was glutted with sale.
Of the 321 issues traded, 216 advanced, 216 declined and 36 remained unchanged.
Majority of multinational companies and large caps experienced negative vibes with the Lafarge Surma Cement slipping over 3% and UPGDCL more than 1%.
All the large cap sectors suffered except the telecommunication that gained nearly 1%.
Cement experienced a significant correction of 2.3%. Power went down by 1.3%. In the financial sector, both banks and non-banking financial institutions lost 0.7% and 0.5% respectively.
Pharmaceuticals, cement, engineering, food and allied also went down.
IDLC Investments said the market was highly driven by meticulous investors, instigating them to eye the short-term profit booking, which resulted in the premier index to hit almost four months low.
The market activity was highly depressed, indicating that some utopian investors preferred to remain observant, it said.
Lafarge Surma Cement topped the liquidity chart with a turnover worth Tk17 crore.
