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Stocks continued to bleed on Sunday as jittery investors opted to remain out of the market amidst an uncertain market outlook.
The DSEX, the benchmark index of the capital bourse, dropped to a 2-month low closing at 6,182 yesterday against 6,205 in the previous trading session.
Among other indices, the DS30, the blue-chip index, dropped 6.59 points or 0.29 per cent to close at 2,214, and the DSES, the Shariah-based index, suffered 5.06 points or 0.37 per cent to 1,350.
The market has been wading through choppy trading in the past few sessions in the absence of a positive market trigger, while investors remain hesitant to make fresh investments in equities as induced by the macroeconomic adversities and dismal financial performance of the listed companies, said EBL Securities, a stockbroker, in its daily market review.
Investors continued offloading their holdings aiming to protect their funds from the ailing market in an effort to minimise their losses, causing the core index to plunge below the 6,200 mark after nearly two months, it added.
The turnover of the Dhaka bourse witnessed a slight increase in participation with the turnover inching up by 3.8 per cent to Tk 231 crore against Tk 222 crore in the previous session.
The pharma sector topped the turnover chart with a contribution of 16.5 per cent to the total turnover of the prime bourse, followed by the IT (15.2 per cent), and the travel (10.0 per cent).
All the sectors displayed dismal returns at the Dhaka bourse, with the IT sector facing the highest correction of 3.2 per cent, followed by travel (2.8 per cent) and services (2.4 per cent).
Al-Haj Textile Mills Limited topped the gainer list with a return of 6.2 per cent, while Emerald Oil Industries Ltd was the day’s worst sufferer with a loss of 10.6 per cent.
Out of the securities traded, only 4 stocks advanced, while 149 issues declined and 238 scrips did not see any movement on the DSE trading floor.
The port city bourse, CSE, also settled on red terrain, with its two major indices – the selected indices (CSCX), and the all-share price index (CASPI) – declining by 35.3 points and 58.5 points respectively.
