Dhaka stocks witnessed another big fall on Tuesday, as a section of investors continued selling shares to prevent further erosion in their portfolios amid economic worries in the country, market operators said.
DSEX, the key index of the Dhaka Stock Exchange, decreased by 60.71 points, or 1.13 per cent, to close at 5,269.52 points on the day, after decreasing by 53.47 points in the previous session.
The DSE operated from 10.00am to 1.50pm on Tuesday and the previous two sessions, instead of regular trading hours, from 10.00am to 2.30pm, in line with the relaxation period of the ongoing curfew.
Stockbrokers said that the country鈥檚 economy had already been in a bad shape and the recent turmoil centring quota reform protests in the country worsened the situation.
Md Ashequr Rahman, managing director of Midway Securities, told 抖阴精品 that the Dhaka bourse was reflecting the overall economic situation of the country.
鈥楾he economic situation is worsening. For example, the amount of non-performing loans is increasing. Moreover, the market is not allowed to move at its own pace due to the circuit breaker, which discourages investors to participate in trading,鈥� he said.
The key index on Tuesday started the session with a fall, and maintained the downward trend till the end of the session to finish in the negative trajectory.
The turnover of the Dhaka bourse decreased to Tk聽432.69 crore compared with that of Tk聽450.18 crore in the previous session.
Market operators observed that some investors decided to be cautious, staying out of the market and watching its movements closely.
Of the 397 issues traded on Tuesday, 25 advanced, 340 declined and 32 remained unchanged.
The DSE Shariah index decreased by 14.86 points, or 1.27 per cent, to close at 1,151.54 points on the day.
The DS30 index lost 20.88 points, or 1.09 per cent, to finish at 1,881.85 points.
On the sectoral front, pharmaceutical issues exerted the highest turnover, followed by the food and bank shares.
EBL Securities in its daily commentary said, 鈥楾he market pulse remained bearish, with the majority of scrips sliding into red territory as cautious investors still shy away from taking positions in equities amidst uncertainties regarding the market鈥檚 outlook due to concerns surrounding the economic impact of the prevailing unrest.鈥�
Techno Drugs topped the turnover chart on the day with its shares worth Tk 83.74 crore changing hands.
Orion Infusion, Agni Systems, Alif Industries, NRB Bank, Salvo Chemical Industry, Square Pharmaceuticals, Beach Hatchery, Taufika Foods and Lovello Ice-cream and Midland Bank were the other turnover leaders.
