Home ›› 07 Mar 2022 ›› Stock
Dhaka stocks logged in a third straight day of losses on Sunday, in line with global peers. Stocks tumbled and oil surged with the war between Russia and Ukraine showing no signs of slowing down, the stock markets, both global and domestic, continued to trade on a hesitant note.
The benchmark DSEX index fell 58 points or 0.86 per cent to settle at 6,638, hitting as high as 6,711 and as low as 6,633. In three days, it shed 115 points.
Its two junior indices--the Shariah-based DSES index dropped 10 points or 0.76 per cent to 1,431 and the blue-chip comprising DS30 index declined 24 points or 0.97 per cent to 2,438.
Trading activities also remained dull as the turnover stood at Tk 6,51 crore, which is considered poor considering the present market’s depth.
“The ongoing crisis over Russia and Ukraine continue to keep investors on the sidelines,” said a top dealer.
Food, telecommunication and financial stocks declined the most as Russia's invasion of Ukraine raised fears that a war in Europe will fuel higher inflation and derail economic growth.
“Stocks on Dhaka bourse plummeted as sell-offs in major sectors pushed the market down while the market observed intense volatility as investors' confidence on the trading floor is yet to recover as they feared for a longer Ukraine-Russian conflict emergence,” said the EBL Securities in a note.
Trading activities remained sluggish as most investors are on the sidelines amidst the ongoing bearish vibe to avoid any potential correction, it said.
On the sectoral front, miscellaneous (15.3per cent) issues exerted the highest turnover followed by pharmaceuticals (14 per cent) and textile (11.7per cent) stocks.
The majority of the sectors displayed dismal performance, out of which life insurance (-2.1 per cent), general insurance (-2.1 per cent), and cement (-1.8 per cent) observed the most corrections while mutual fund (2.2 per cent), paper (1.5 per cent) and jute (1.1 per cent) have exerted positive returns on the bourse.
