Stocks incur losses further amid low turnover

Stocks extended losses for the fifth straight session amid poor turnover on Tuesday as investors sold off shares on apprehension of further losses.   From the very beginning the market dived and the trend accelerated further at close, pulling down all the indices, dealers said.   The benchmark DSE General Index, DGEN, plunged 134 points or 3% to close at 4,224, which was lowest in more than six weeks.    Last five consecutive sessions’ total plunge of 551 points eroded all the gains in one and half months’ rally.   The free float-based benchmark, DSEX, was sharply down 125 points or 3% to 3,929. The DSE30 dropped 61 points or 61% to 1,435. The Chittagong Stock Exchange Selective Category Index, CSCX, shed 250 points to 7,758.   Panic-driven selling pressure pulled down the market sentiment for the fifth consecutive session, which took another big toll in the bourse, said IDLC Investment in its daily market analysis.     Seemingly, recent developments in the political arena had been working to dive the market further, it said.    Turnover value at DSE remained dry as it amounted to Tk4.4bn, slightly up by 1.4% over previous session’s six-week low. Losers outpaced gainers as out of 287 issues traded, 31 advanced, 241 declined and 15 remained unchanged.    The bear run sustained in the market as all three indices faced another sharp decline. None of the sectors gained except food and allied gaining 0.56%.