DSE core index hits fresh 9-month low

Stocks slipped into the red Sunday as prime index of the major bourse hit fresh nine months low.

Investors went on late hours' selling spree amid ongoing dividend declarations session.

Market operators said the market went into negative territory as investors saw late hours' selling binge, especially telecommunication, fuel & power and banking sectors stocks.

The market bleeds after a single-day break.

"Investors' confidence remained low as persistent liquidity shortage coupled with uncertainty over the Dhaka bourse's share sales to strategic partner continues," said an analyst at a leading brokerage firm.

He noted that the prevailing liquidity problem in the banking sector continued to push banks' deposit interest rate high and lured many investors to put money into banks instead of investing in capital market.

The recent crises took a toll on the market turnover.

From the beginning of the year, index has been on the downward with some periodic upward movement which failed to sustain. During the fall, index lost about 767 points or 13.77 per cent from the peak.

CSE, the second bourse also ended lower with the CSE All Share Price Index - CASPI -losing 63 points to settle at 17,176 and Selective Categories Index - CSCX -shedding 38 points to finish at 10,376.

Here too, the losers beat the gainers as 127 issues closed lower, 64 ended higher and 36 remained unchanged on the CSE.

The second bourse traded 4.90 million shares and mutual fund units worth more than Tk 169 million in turnover.

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