Stocks extended the losing streak for the fourth straight session Tuesday, with key index of the major bourse falling below 5,000-mark, as investors continued booking profits on major sectors issues.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 4,970, shedding 42.01 points or 0.83 per cent over the previous day.
The core index lost more than 146 points or 2.85 per cent in the past four consecutive sessions after a big jump in recent weeks.
The benchmark index surged a cumulative 1,144 points or 29 per cent in the past 13 consecutive weeks. The DSE market-cap also added Tk 752 billion during the period under review.
Market analysts said the cautious investors continued to book profit on majors sectors' issues which saw substantial gain the past few weeks amid revision of margin loans ratio and debut trading of a new issue.
A group of investors went for selling shares to take position in upcoming Walton Hi-Tech Industries shares which is set to make debut trading today (Wednesday), commented UCB Capital Management.
The revised margin loan policy by the stock market regulator also held back a section of investors to put fresh stake in stocks as the regulator set maximum margin loan limit in line with the DSE core index, said a leading broker. The Bangladesh Securities and Exchange Commission (BSEC) issued an order revising the margin loan ratio on Monday which will come into force from October 1.
According to the order, merchant banks or brokerage firms will now be able to provide margin loan to their clients at a maximum limit of 1:1 when the DSEX will be below 4,000 points.
Top negative index contributors of the market were British American Tobacco, Bangladesh Submarine Cable, Berger Paints, Beacon Pharma and Beximco, according to data from amarstock.com, a stock market data analyst.
Two other indices also ended lower. The DS30 index, comprising blue chips, lost 12.61 points to finish at 1,714 and the DSE Shariah Index slumped 11.37 points to close at 1,126.
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