Stocks continued to fall for the third consecutive session yesterday with declining participation in trading.
The market opened with bearish sentiment and the trend continued as days passed.
The benchmark DSEX lost 46 points or 1% to close at 4,917, pulled down mainly by power and other large cap stocks.
The Shariah index DSES was down 10 points or nearly 1% to 1,156. The comprising blue chips DS30 ended at 1,829, shedding 22 points or 1.3%.
Chittagong Stock Exchange (CSE) Selective Categories Index, CSCX, closed at 9,290 with a fall of 70 points.
Trading at the Dhaka Stock Exchange was relatively sluggish. Total market participants went down by 8.2% to Tk690 crore over the previous session.
Stock prices fell across the board as out of 304 issues traded, 68 advanced, 200 declined and 36 remained unchanged.
Among the large cap sectors only, power yielded a positive return of 0.3%. All other major sectors closed in red.
Non-banking financial institutions registered the highest loss of over 1%.
Telecommunication, banks, pharmaceuticals, food and allied, fuel and power, IT, real-estate, cement, engineering and pharmaceuticals closed lower.
Shahjibazar Power rallied almost 9%, which is the biggest gainer of the day, shrugging off launching of regulators probe against its unusual price hike. It also became the top tunover leader with shares worth Tk54.8 crore changing hands.
Lanka Bangla Securities said the market ended the day in red territory again as investors remained confused about future market directions.
It said despite some mid-cap and large-cap stocks registering favorable earnings in the latest quarter, overall investors’ sentiment remains bearish.
IDLC Investments said market continued to slip down, despite somewhat slow selling pressure and turnover.
Additionally, news related to soaring default loans in banking industry kept investors re-thinking before further investment, it said, adding that quarterly earning disclosures in the session didn’t match with investors’ expectations.
After Shahjibazar, other leading top turnover leaders include Western Marine Shipyard, Jamuna Oil, Dhaka Electric Supply Company Ltd, Titas Gas, Parma Aids and Navana CNG.
