Stocks witnessed sharp decline Monday for the second running session and the key index of the prime bourse dipped below 4,500 points mark as most of the investors went for panic sale.
Starting on a choppy trading, the prime index of the DSE --- DSEX came down below 4,500 points mark after 11-week and ended at 4,466.08 points, shedding 53.46 points or 1.18 per cent.
The other two indices also saw sharp decline. The DS30, comprising blue chips lost 25.81 points or 1.59 per cent to close at 1,589.38 points. The DSE Index (DSES) went down by 10.77 points or 1.10 per cent to close at 967.97 points.
Turnover value on the DSE stood at Tk 2.98 billion, registering 22.82 per cent increase over the previous session's 5-month low value of Tk 2.43 billion.
"Another gloomy session passed Monday amid fear continuing gripping investors tighter," commented IDLC Investments, in its daily market analysis.
"As sentiment was shaky amid cloudier investment outlook, bearish spell remained strong and dominated the market throughout the session".
Consequently, the bourse took a toll of 53 points, putting DSEX below 4,500 level after two months. In addition, participation was sluggish, keeping turnover below Tk 3.0 billion for the third consecutive session, said the merchant bank.
"Market remained in a deep consolidation phase for the second consecutive week after giving some intraday gains on sector specific stocks," observed LankaBangla Securities.
Investors have stopped pumping money into the market as advance to decline ratio stood at 67 to 188, it said.
"Market has lost some ground on cue of panic sell after Bangladesh Bank ruled to reduce the capital market exposure of banks, losing 6.0 per cent in a month from now," said the stock broker.
"Market once again faced severe correction, as most traders perceive that the trend will persist throughout this month," observed Zenith Investments.
Given the ongoing situation, upcoming holiday before the weekend should also be taken into consideration, which may put many traders inactive during the last day of this trading week, said the Zenith analysis.
The losers took a strong lead over the gainers as out of 289 issues traded, 188 advanced, 67 declined and 34 issues closed unchanged on the DSE floor.
Activities increased in the major bourse (DSE) where volume and trade were up by 17.04 per cent and 14.06 per cent respectively. A total of 0.080 million trades were executed with 55.17 million securities of trading volume.
The total market capitalisation of the DSE stood at Tk 2,836.66 billion against Tk 2,856.13 billion in the previous session.
Emerald Oil Industries became the top turnover leaders with shares worth Tk 198.77 million changing hands followed by BSC, Square Pharma, Lafarge Surma Cement and BSCCL.
Renwick Jajneswar was also the day's highest gainer; posting a rise of 8.74 per cent while BD Finance was the day's worst losers, slumping by 7.56 per cent.
The port city bourse --- the Chittagong Stock Exchange (CSE) also saw steep fall with its Selective Categories Index - CSCX lost 103.64 points to close at 8,698.89 points.
Losers beat gainers 160 to 35, with 16 issues remaining unchanged at the port city bourse that traded 5.21 million shares and mutual fund units, turnover value of Tk 247.08 million.
