Bearish mood continues

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FE Report
The Dhaka Stock Exchange (DSE) witnessed bearish mood for the third consecutive week that ended Thursday, with the persistent low turnover.
During the week all the market barometers - the benchmark DSE General Index (DGEN), All Shares Price Index (DSI) and DSE-20 comprising blue chips - shed 119.51 points, 98.51 points and 64.01 points to close at 2748.60, 2278.16 and 2352 respectively.
Out of 290 issues, 43 advanced, 211 declined, six remained unchanged and 30 were not traded in the week.
The pulse of the market remained uneasy in the week as the investors remained confused over the market direction, according to the market operators.
"The market moved one step forward and two step backwards during the week, making the investors confused over the market's direction," said a market player adding that moreover, the confidence level has been shaken by the continuous volatile behavior of the market.
A source in the merchant bank said, "Lending activities of the merchant banks, considered the major market player, have shrunk due mainly to their statutory restriction, leading to their reduced capacity to inject fresh funds into the market."
The daily average turnover, however, registered 31.29 per cent drop to Tk 2.62 billion against the previous week's Tk 3.81 billion. The DSE market capitalisation slightly declined to Tk 986.23 billion from Tk 1.00 trillion of the previous week.
Beximco Pharma continued to top the turnover leader position with shares worth Tk 1.34 billion traded and accounted for about 10.22 per cent of the week's total market turnover at the prime bourse.