Stocks extended the losing streak on Thursday with key index dropped below the 4,400-mark again as investors continued their selling binge on sector-wise shares.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 25.13 points or 0.57 per cent to settle at 4,384.
Market analysts said the investors have been suffering a crisis of confidence for long while fear over coronavirus pandemic prompted them to sell-offs.
An analyst said the fear over possible impact of the single-digit interest rate on the banking business also dampened investors’ confidence.
He noted that some investors followed ‘go-slow’ policy as there is no visible progress in the formation of a special fund for the stock market.
Two other indices also ended lower. The DS30 index, comprising blue chips, lost 7.62 points to close at 1,462 and the DSES (Shariah) index shed 7.66 points to settle at 1,015.
Turnover, an important indicator of the market, dropped to four-week to Tk 4.15 billion on the country’s premier bourse, falling by 19 per cent over the previous day’s turnover of Tk 5.10 billion.
Losers took a strong lead over the gainers, as out of 355 issues traded, 213 closed lower, 105 ended higher and 37 remained unchanged on the DSE trading floor.
A total number of 134,637 trades were executed in the day’s trading session with trading volume of 156.44 million shares and mutual fund units.
The market-cap of the DSE also fell to Tk 3,367 billion, from Tk 3,389 billion in the previous session.
LafargeHolcim topped the turnover chart with shares worth Tk 139 million changing hands, closely followed by Orion Pharma, Nahee Aluminium, Beacon Pharma and CVO Petrochemical Refinery.
Sinobangla Industries was the day’s best performer, posting a gain of 9.96 per cent while Tung Hai Knitting was the worst loser, losing 8.69 per cent.
The Chittagong Stock Exchange also edged lower with its All Shares Price Index (CASPI)—falling by 87 points to close at 13,404 and the Selective Categories Index - CSCX –losing 51 points to finish at 8,123.
Here too, the losers beat gainers, as 162 issues closed lower, 60 ended higher and 21 remained unchanged on the CSE.
The port city bourse traded 8.62 million shares and mutual fund units worth more than Tk 161 million in turnover.
