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Stocks fell on Thursday, extending their losses to four sessions in a row amid volatility.
The DSEX, the broad index of the Dhaka bourse, was down 32.10 points or 0.51 per cent to settle at 6148. In four sessions, it lost 163 points.
“The equity indices of the prime bourse held its bearish vibe for another consecutive session that resulted from investors’ concern regarding the gloomy outlook of the overall economy,” said the EBL Securities in a note.
“The economy of the country has been suffering from high inflation and significant depreciation of the local currency. Investors have become much worried not only about their living cost but also about the future of the profitability of the listed companies. But, the foreign currency reserves might increase at the end of the year because of inflows from multilateral lenders and the government’s initiative to reduce imports,” it said.
Two other indices also closed in the red. The DS30 index lost 16.56 points to close at 2194 and the DSES index shed 8.70 points to finish at 1345.
Moreover, the total turnover declined 1.2 per cent and stood at Tk 583 crore as against Tk 799 crore in the previous session. On the sectoral front, Miscellaneous (18.5 per cent) issues exerted the highest turnover followed by Textile (12.4 per cent) and Pharma (10.2 per cent) stocks.
Though most of the sectors displayed dismal returns, out of which Travel (-1.3 per cent), Jute (-1.0 per cent), and Services (-0.8 per cent) exerted the most negative returns, Paper (1.7 per cent), Mutual Fund(1.5 per cent) and Tannery (0.1 per cent) showed a shine of light .
Out of the 386 issues traded, 96 advanced, 166 declined, and 124 remained unchanged. The port city bourse, CSE, also, settled in red terrain. The selected indices (CSCX) and All Share Price Index (CASPI) marginally declined by 64.4 and 104.1 points respectively.
