Stocks closed lower amid persistent volatility yesterday, extending their losing streak for the seventh consecutive session.
The market that remained positive briefly in the morning suffered see-saw trading throughout the entire session.
The benchmark index DSEX lost 20 points or 0.5% to 4,513, its lowest since November 18 this year. The Shariah index DSES inched 4 points to 1,090. The blue chip comprising index DS30 settled at 1,717, declining 7 points.
The Chittagong Stock Exchange Selective Category Index CSCX was down 4 points to 8,406.
Investors continued to lose their appetite for shares of Regent Textile Mills Limited that entered into its second trading day, sending its stock prices almost 10% down to Tk20.8 a share.
The stock was the biggest loser and went below its offer value of Tk25 a share.
Trading activities continued to remain low as the DSE turnover stood at Tk324 crore, down over 3% over the previous session.
Stock prices fell across the board as out of 315 issues traded, 76 advanced, 182 declined and 57 remained unchanged.
All the large cap sectors closed lower. Cement lost the highest 1.6%, followed by non-banking financial institutions 1%, food and allied 0.9% and pharmaceuticals 0.6%.
IDLC Investments said the negative momentum in the market lingered to the seventh consecutive session, while DSEX struggled to remain above 4,500 points. “Amid lack of optimistic economic ambient and vapid capital market investment outlook, investors were yet to find a solid ground to ignite their investment mindset.”
Beximco Pharmaceuticals was the most-traded stocks for the second consecutive day, with shares worth Tk20.8 crore changing hands.
There will be no trade today as the market will remain closed due to public holiday on the occasion of Victory Day.
