Stocks continued to drop for the fourth session in a row amid volatility yesterday, pulled down by mainly selling pressure in fuel and power, and pharmaceuticals issues.
The benchmark index DSEX lost 14 points or 0.4% to 4,564 – lowest since July 8 this year.
With the losses, the index shed a total of almost 277 points within 20 trading sessions this month.
The Shariah index DSES was down over 5 points or 0.5% to 1,092. The blue chip comprising index DS30 closed at 1,725, slipping around 5 points or 0.3%.
The Chittagong Stock Exchange Selective Category Index CSCX settled at 8,4991, dropping 21 points.
However, trading activity got back strength from its previous session’s seven month low due to block trade of Tk120 crore in IPDC.
The DSE turnover was Tk460 crore, which is steeply up nearly 74% over the previous session’s value.
Most sectors ended flat. Banks, non-banking financial institutions, cement, pharmaceuticals and chemicals rallied marginally.
Other sectors, including power, pharmaceuticals, food and allied, telecommunications, life insurance and textile suffered losses.
IDLC Investments said the bourse started with a positive note, crossing 4,600 level within first hour of trading as savvy investors opted for attractive stocks.
But, investors lost poise over the sustainability of market at that level, as DSE news board was flooded with lower than expected earning declared by several companies, it said.
Moreover, the pessimistic news on World Bank’s ranking of the ease of doing business in Bangladesh kept investors thinking on long term business prospects, it said.
Lanka Bangla Securities said equity benchmark remained under pressure amid volatility.
Such sluggish trend in market can be primarily ascribed to month end adjustment in portfolio, it said.
Furthermore, Bangladesh Bank and BSEC are in talks on banks’ capital market exposure, which kept investors waiting for outcome of the meeting, it added.
