Stocks extended the losing streak for the second straight session on Tuesday, with turnover hitting one year low, as jittery investors sold shares to avoid further losses.
The recent regulatory intervention failed to stop the market fall as investors were reluctant to make fresh investments amid fear of global economic turmoil due to the ongoing Russia-Ukraine war, market insiders said.
Turnover, the crucial indicator of the market, came down to Tk 5.75 billion, which was 7.25 per cent lower than the previous day’s tally of Tk 6.20 billion.
It was also the lowest single-day transaction in the last 12 months since April 15, 2021, when turnover was recorded at Tk 5.56 billion.
The core index of the Dhaka Stock Exchange (DSE) also dipped below the 6,700-mark after ten trading days as investors sold shares to avoid further losses.
DSEX, the key index of the DSE, slid 24.61 points to settle at 6,694. DSEX lost 77.61 points in the past two straight sessions.
Two other indices also closed lower with the DSE 30 Index, comprising blue chips, losing 4.08 points to finish at 2,464 and the DSE Shariah Index (DSES) dropped 1.27 points to close at 1,460.
Prices of more than 75 per cent of traded issues fell on the prime bourse, as out of 381 issues traded, 286 declined, 51 advanced and 44 remained unchanged on the DSE trading floor.
Beximco topped the turnover list with shares worth Tk 486 million changing hands, closely followed by LafargeHolcim (Tk 325 million), IPDC Finance (Tk 306 million), GSP Finance (Tk 253 million) and VFS Thread Dyeing (Tk 151 million).
The newly listed JMI Hospital Requisite Manufacturing was the top gainer for the third straight session, posting a 9.77 per cent gain, while Pragati Insurance was the day’s worst loser, losing 2.66 per cent following its corporate declaration.
The Chittagong Stock Exchange (CSE) closed lower with the CSE All Share Price Index – CASPI –losing 54 points to settle at 19,646 and the Selective Categories Index – CSCX – shedding 32 points to close at 11,786.
Of the issues traded, 193 declined, 61 advanced and 30 issues remained unchanged on the CSE.
The port city bourse traded 5.12 million shares and mutual fund units with a turnover value worth Tk 123 million.