Stocks continued bleeding for the four consecutive sessions Thursday as risk-averse investors opted for liquidating their position to escape from further losses on their portfolios.
The stock market logged extreme hurdles due to the prolonged bear run while the top ten gainers’ list could not be rounded off on both bourses.
The Dhaka Stock Exchange got only seven gainers while the Chittagong Stock Exchange (CSE) got five gainers as investors were reluctant to put fresh bets in stocks amid the confidence crisis.
The market started with downward movement as the shaky investors went for selling off their holdings fearing further fall.
DSEX, the prime index of the DSE, went down by 13.18 points or 0.21 per cent to settle at 6205, lowest in six weeks. DSEX lost 41 points in the four trading days.
The market turnover is drying up in absence of buyers while the large-cap stocks that dominated the market turnover chart earlier, remained at floor price trap.
As a result, the daily turnover shrunk to Tk 2.23 billion, the lowest transaction since January 3 this year.
Of the 311 issues traded, only 7 gained, 150 declined and 154 remained due to lack of potential buyers amid the bearish market outlook.
The CSE also ended lower with its All Share Price Index – CASPI –shedding 26 points to settle at 18,334 and the Selective Categories Index – CSCX losing 15 points to close at 10,990.
The port city’s bourse traded 1.22 million shares and mutual fund units with turnover value of Tk 71.10 million.