Stocks break gaining streak

Stocks today witnessed a downward trend after showing two days of positive trend as investors preferred to book profit on quick-gaining stocks.

DSEX, edged down by 19.3 points and settled at 6,406 points as against 6,426 points at the end of the Sunday.

Dhaka stock settled down, reversing the short-lived upward momentum, as the adverse economic impact of the floods in Bangladesh’s northeast region has worsened overall market sentiment, Said the EBL Securities.

Moreover, the adverse economic situation brought by imported inflation and increasing pressure on the foreign exchange market has added to investors' anxieties, said the note.

Besides, bourses observed a considerable decline in participation, while turnover has decreased by 14.4 per cent and stood at 890 Crore as against Tk 1046 Crore in the previous session.

On the sectoral front, Miscellaneous (22.3 prt cent) issues exerted the highest turnover followed by Textile (12.4 per cent) and Bank (9.1 per cent) stocks.

Most of the sectors displayed dismal returns, out of which General Insurance (-1.7 per cent), Travel (-1.7 per cent), and Financial Institution (-0.9%) exerted the most negative returns while Miscellaneous (1.4 per cent) and Telecom (0.1 per cent) generated some positive returns on the bourse Sunday.

Out of the 386 issues traded, 62 advanced, 282 declined, and 42 remained unchanged.