DSE turnover at two-month low

Stocks extended the losing streak on Monday with turnover hitting two months low on Dhaka Stock Exchange (DSE), as shaky investors continued their sell-offs on major sector-wise issues.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 48.65 points or 1.0 per cent to settle at seven-week low at 4,809.
The benchmark barometer lost more than 125 points in the past three consecutive sessions.

Turnover, a crucial indicator of the market, also fell to two-month low to Tk 6.94 billion, which was 21 per cent lower than the previous day's turnover of Tk 8.75 billion.
Investors are gradually ramping up their sales pressure as some investors were engaged in profit booking while others were becoming anxious over the future economic condition of Bangladesh, commented EBL Securities.
The stockbroker noted that the second wave of novel coronavirus which appears to be imminent in Europe would negatively affect exports and may have adverse impact on Bangladesh's economy.
Market analysts said the retail investors continued their selling binge on major sectors issues while institutional investors remained on the sidelines amid ongoing earnings session.
World Bank's forecasts at a lower GDP growth (1.6 per cent in the current fiscal year) for Bangladesh added further woes to the market performance, said a leading broker.
Media reports that the government has decided to use the country's foreign exchange reserves to implement development projects, also made investors worried, he said.
He noted that many investors are also moving to the primary market as the Bangladesh Securities and Exchange Commission (BSEC) approved a good number of initial public offerings in recent months.
According to International Leasing Securities, the risk-averse investors continued their heavy sell offs on major sectors as experts cautioned about the second wave of Covid-19 which may hit Bangladesh in winter.
Two other indices also ended lower. The DS30 index, comprising blue chips, lost 10.10 points to finish at 1,637 and the DSE Shariah Index shed 2.39 points to close at 1,096.
After a significant gain in recent weeks, general insurance witnessed the highest correction, losing 9.0 per cent, followed by mutual fund with 7.2 per cent, engineering 5.1 per cent, banking 1.0 per cent, financial institutions 0.80 per cent and pharma 0.50 per cent.
Only telecom gained 0.50 per cent among the major sectors.
Losers took a strong lead over the gainers as out of 354 issues traded, 238 ended lower, 56 closed higher while 60 issues remained unchanged on the DSE trading floor.
A total number of 156,753 trades were executed in the day's trading session with a trading volume of 314.10 million shares and mutual fund units.
The insurance sector continued to dominate the turnover chart with Eastland Insurance topped the turnover list with shares worth Tk 230 million changing hands, followed by Sandhani Life Insurance, Beximco, Brac Bank and Continental Insurance.
National Feed Mills was the day's best performer, posting a gain of 9.70 per cent while Sonar Bangla Insurance was the worst loser, losing 9.98 per cent.
The Chittagong Stock Exchange also ended lower with its All Shares Price Index (CASPI)-losing 133 points to close at 13,747 while the Selective Categories Index - CSCX shedding 77 points to close at 8,259.
Of the issues traded, 184 declined, 48 advanced and 39 remained unchanged on the CSE.
The port city bourse traded 12.13 million shares and mutual fund units with turnover value of more than Tk 260 million.
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