Stocks extended losses for the second session yesterday, as investors were worried over the deepening political chaos.
The market opened dropping nearly 45 points in the morning but recovered some losses at the end.
The benchmark index DSEX declined 23 points or 0.5% to close at 4,724, after marginal fall in the previous session.
The Shariah index DSES fell 6 points or 0.6% to 1,115. The comprising blue chips DS30 was down 9 points to 1,747.
Chittagong Stock Exchange (CSE) Selective Categories Index, CSCX, ended at 8,736, shedding 65 points.
Trading at Dhaka Stock Exchange continued to remain sluggish amid political instability, as turnover stood at Tk206 crore, a decrease of 12% over the previous session.
Almost all other sectors, including power, non-banking financial institutions, telecommunications, pharmaceuticals, cement and banks edged lower like previous session.
Textile sector that shined in the previous session ended in the positive territory on profit booking.
Food & Allied sector was the only sector which ended in green with a rally of 2.9%, backed by the heavy weight BATBC that rose more than 4%.
The market breadth largely remained negative, as out of 303 issues traded, 55 advanced, 204 declined and 44 remained unchanged.
IDLC Investments said the last session of the week extended the bearish sentiment that prevailed throughout the week.
“Investors were reluctant from the start of the session. Alongside, they were eagerly waiting for the second half-yearly monetary policy statement,” it said.
IDLC said though the numerous earnings disclosures appeared during the day, the sentiment couldn’t get improved.
The malnourished activities failed to generate any substantial turnover, which amassed to be just over Tk200 crore, it said.
LankaBangla Securities said the market continued to extend losses yesterday, taking cues from the on-going deadlock in economic activities amid strikes and blockade.
It said investors were looking ahead to the monetary policy decision for the second half of the FY2014-15.
The intraday trading was mostly bearish, though buyers came in last hour to reduce loss of early trading, it said.
“Investors are looking forward to the indication that the policymakers would consider the shocks accruing to the economy as outcome of the ongoing political impasse in monetary policy statement.”
