Dhaka stocks closed another bearish session deep in the red on Wednesday, with the turnover hovering around a 13-month low amid thin participation of investors suffering from weaker confidence in the market.
The Dhaka Stock Exchange (DSE) posted a turnover of Tk 2.74 billion, the lowest since March 30, 2018.
The prime index, DSEX, plunged 1.07 per cent over the previous day, extending its losing streak for the fourth consecutive session, as prices of most listed securities slumped.
The DSEX shed a total of 198 points in the last four sessions.
Protesting the continuous fall in stock prices, aggrieved retail investors staged a demonstration in front of the premier bourse at Motijheel in the city on Wednesday.
When asked for comments, Dr AB Mirza Azizul Islam, a former chairman of the Bangladesh Securities and Exchange Commission, said such a continuous declining trend of the market is not logical as many listed securities are not overpriced.
"Some external factors, including increased deposit rates, might have prompted investors to shift funds to other options for better returns," said Mr. Islam, also an advisor to the former caretaker government.
The securities regulator and the bourses can also conduct investigations to find out other reasons, if any, behind the falling trend, he suggested.
The DSE opened the day's session on a positive note, showing a ray of hope for the investors, but the upward trend continued only for 40 minutes and the remaining hours of the session saw the DSEX go below the day's starting point amid volatility.
The DSEX finally settled 1.07 per cent or 57.14 points lower at 5261.60.
The Shariah-based index, DSES, and the DS30 index comprising blue chip securities also lost more than 1.0 per cent.
Of 348 issues traded on the DSE, only 64 issues gained, 231 declined and 53 remained unchanged.
The turnover stood at over Tk 2.74 billion, down 25 per cent from the turnover of the previous session.
Grameenphone topped the transaction chart, generating a turnover of Tk 175 million, followed by Monno Ceramic Industries and Fortune Shoes.
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