Stocks extended their losing streak for the third straight session on Wednesday as investors remained mostly cautious about the upcoming earnings declaration coupled with ongoing Covid-19 crisis.
DSEX, the key index of the Dhaka Stock Exchange, went down by 6.17 points or 0.15 per cent to close at 3,963.
The core index eroded 97 points in the past three consecutive sessions after adding 52 points in the opening session on May 31.
"Many stocks have now reached at reference floor price and other stocks are nearing to this price level. As a result, investors are not being able to sell/buy shares at their preferred price," commented EBL Securities, in its regular market analysis.
Market operators said investors are afraid of further economic contraction and lower earnings of the listed companies due to the fallout of Covid-19 crisis.
"Most of the stocks are not being traded due to the lack of buyers as they think these stocks deserve more fall. But that did not happen because of the floor price," he said.
Of the issues traded, 252 remained unchanged while only 16 issues advanced and 43 declined on the DSE trading floor.
He noted that the floor price should be withdrawn gradually.
Two other indices also ended lower. The DS30 index, comprising blue chips, shed 1.99 points to finish at 1,328 and the DSE Shariah Index lost 1.20 points to close at 918.
Turnover stood at Tk 1.52 billion on the country's premier bourse, falling further by 2.0 per cent over the last session's mark of Tk 1.55 billion.
According to International Leasing Securities, the panic-driven investors continued their selling of shares due to lack of confidence amid the ongoing virus impact on the economy.
Selling of shares was witnessed mostly from telecom, bank and pharma sectors while life insurance and ceramic sectors enjoyed buoyancy, said the stockbroker.
A total number of 13,138 trades were executed in the day's trading session with trading volume of 22.43 million shares and mutual fund units.
The market-cap of the DSE also fell to Tk 3,103 billion, from Tk 3,106 billion in the previous session.
Grameenphone topped the turnover chart with shares worth Tk 68 million changing hands, followed by Beximco Pharma, Beximco, Square Pharma and Al-Arafah Islami Bank.
Exim Bank 1st Mutual Fund was the day's best performer, posting a gain of 2.43 per cent while Dulamia Cotton Mills was the worst loser, losing 7.20 per cent.
The Chittagong Stock Exchange also ended lower with its All Shares Price Index (CASPI)-losing 29 points to close at 11,231 and the Selective Categories Index - CSCX -shedding 19 points to finish at 6,804.
Of the issues traded, 14 gained, 32 declined and 81 remained unchanged on the CSE.
The port city bourse traded 1.83 million shares and mutual fund units worth Tk 36 million in turnover.
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