Home ›› 13 Apr 2022 ›› Stock
Dhaka stocks on Tuesday extended their losing streak for the second straight session with the benchmark DSEX index falling below the 6,600-level on selling pressure.
The index was down by 65 points or almost 1 per cent at 6,574—its lowest since April 8 this year.
The market could have fallen sharply but 2 per cent lower limit circuit breaker set by the securities regulator prevented the index from going down further.
The decline was led by the financial institution, telecommunication, insurance and textile stocks.
Investors preferred to stay sidelines taking a cue from the macroeconomic economic front.
All sectors turned red led by the bulk of the targeted selling remained confined to market pivotal such as Grameenphone, Robi, Walton Hi-Tech Industries, Square Pharmaceuticals, and Beximco dragging the index sharply down.
The market sentiment continued to remain subdued as investors remained unconvinced about the market’s stability soon against the backdrop of the war in Ukraine, dealers say.
The junior Shariah-based DSES index fell nearly 12 points or 0.81 per cent to close at 1,442 while the blue-chip DS30 index was down almost 20 points or 0.82 per cent at 2,431.
“The country's major bourse is in the doldrums as nervous investors embarked on a selling binge in the absence of any major trigger to avoid further losses,” said EBL Securities in a note.
“Investors' fear loomed amid the global economic turmoil owing to commodities market volatility and price increases for essentials, resulting in a liquidity shortage in the capital market as most investors are hesitant to participate in the market at present stock prices,” it said.
Resultantly, turnover declined 4.4 per cent to Tk 530 crore over the previous sessions’ Tk 570 crore.
Out of the 385 issues traded, 18 advanced, 337 declined, and 30 remained unchanged.
The port city bourse, CSE, also settled in red terrain. The selected indices (CSCX) and All Share Price Index (CASPI) have declined by 87.5 points and 145.8 points respectively.
