Stocks extended losses for the fourth session in a row amid volatility yesterday, as political worry continued to drive away investors from the market.
The market opened with panic-driven sale as the benchmark index plunged over 80 points but some modest buying pressure recovered some losses at close.
The benchmark index DSEX fell 36 points or 0.8% to close at 4,618 – its lowest since September 9 this year.
The Shariah index DSES was down 8 points or 0.8% to 1,091. The comprising blue chips DS30 closed at 1,705, shedding 18 points or 1%.
Chittagong Stock Exchange (CSE) Selective Categories Index, CSCX, ended at 8,562, losing 52 points.
Turnover in the DSE has exceeded over Tk200 crore to stand at Tk230 crore, which is 23% higher over the previous session’s value.
Marginal rise in financial sectors offset losses of all other sectors. Banks and non-banking financial institutions closed flat.
All the other major sectors closed lower with cement suffering worst falling 1.8%, followed by food & allied 1.6% and engineering 1.5%. Power, pharmaceuticals and telecommunication closed slightly lower.
Out of 309 issues traded, 75 advanced, 194 declined and 40 remained unchanged.
IDLC Investments said the session started with a morning panic and panic driven sell pressure as the broad index in first hour dipped 80.6 points.
It said investors continued balancing between ongoing political gridlock and lucrative prices at some fundamentally strong scrips, putting slight level of buy pressure at the end.
“Overall, sentiment didn’t improve and continued slashing investor’s confidence. Consequently, turnover remained low.”
Lanka Bangla Securities said it was another difficult day as index extended losses further.
As favourable set of quarterly earnings came out in last three trading sessions, some buyers showed buying interest in last hour amid cautious mood, it said.
Grameenphone was the most traded stocks with shares worth almost Tk11 crore changing hands, followed by Lafarge Surma Cement, CVO Petrochemical, Square Pharmaceutical, C&A Textile, Shahzibazar Power Company, Olympic Industries and Aamra Technology.
