Stocks continued to fall for the fourth straight session yesterday as the falling market turned investors’ risk averse.
The market opened marginally higher in the morning but moderate sell-off erased the early gains at close.
The benchmark index DSEX lost 26 points or 0.6% to 4,416, its lowest in six months.
The Shariah index DSES was down 3 points to 1,068. The blue chip comprising index DS30 fell 9 points to 1,680.
The Chittagong Stock Exchange Selective Category Index CSCX settled at 8,216 with a fall of 59 points.
“As the DSEX broke psychological barrier in the previous sessions, the common perception is that the market might go down further,” said a broker.
Confidence of investors eroded as they are already worried over the weak macro economy, latest political development and personal security, he said.
All the large cap sectors closed negative except telecommunications that ended flat.
Power experienced a loss of nearly 2%. In the financial sector, non-banking financial institutions went down by 1.7% and banks 0.25%.
Food and allied, cement, textile and pharmaceuticals closed lower.
Trading still remained sluggish at the bourse with turnover amounting to Tk320 crore, which is 2.3% higher over the previous session value.
IDLC Investments said horror plagued investors sentiment as the market continued disintegrating and ignoring all the supports.
“In a bleeding market, intensity of correction itself has become stimulator of further correction.
Amid the turbulence, pharmaceutical silently emerged as the largest capitalisation sector, coinciding extension of waiver from royalty payment to patented drugs for Bangladesh till 2032.
Titas Gas witnessed the highest market participation with turnover of Tk31.7 crore.
It was followed by IFAD Autos, United Power Generation and Distribution Company, Square Pharmaceuticals, Lafarge Surma Cement and KDS Accessories.
