Stocks suffered losses again yesterday with volatility in the market following the previous session’s moderate gain.
The market stayed in positive territory in the morning but fell into the red just before mid-session. The trend continued till the closing.
After rising more than 35 points in first session, the benchmark DSEX lost 26 points or 0.6% to close at 4,899.
The Shariah index DSES dropped marginally 8 points or nearly 0.8% to 1,145. The comprising blue chips DS30 ended at 1,814, shedding 11 points or 0.7%.
Chittagong Stock Exchange (CSE) Selective Categories Index, CSCX, closed at 9,254 with a fall of 58 points.
The DSE turnover stood at Tk490 crore, the lowest in three weeks and 15.6% less than that of the previous session.
Investors maintained their concentration on fuel and power, pharmaceuticals and engineering sectors, holding 48.2% of total trade value.
Shahjibazar Power Company Ltd continued to suffer having no buyer for the second consecutive day after the regulator put a number of conditions on its share trading.
Among the large-cap sectors, only non-banking financial institutions gained. Other major sectors went down. Power and telecommunication witnessed heavy correction of 1.59% and 1.47% respectively.
Pharmaceuticals also declined. Food and allied and banks edged down by 0.33% and 0.32% respectively.
LankaBangla Securities said after passing the week mostly under selling pressure, the market showed lack of participation in early trading and closed in the red.
It said the losses on the day partly offset the strength seen in the previous session. It said the investors remained cautious as the market was yet to get any direction.
IDLC Investments said lack of any clear indication, the market slid down again.
Besides, the investors reacted pessimistically, following the news published in national dailies about the CEO change in largest market cap Grameenphone which fell 1.5%, IDLC said.
It said the investors pursued more cautious stance and the volatility returned with consistent fluctuation in some of the mini-cap scrips that endured major hits, it said.
The state-owned petroleum distribution company Jamuna Oil was the most traded stocks with shares worth Tk49 crore changing hands.
