Stocks extended the losing streak for the fifth consecutive sessions on Tuesday as investors continued their selling binge on sector-wise issues amid rising political tension.
The market started on positive note and the key index rose more than 15 points within first 20 minutes of trading. But rest of the session went down steadily. Finally it ended more than 20 points lower.
DSEX, the prime index of the Dhaka Stock Exchange, went down by 20.58 points or 0.39 per cent, closing the day at 5,204.
Two other indices-the DS30 index and the DSE Shariah Index (DSES)-also closed lower. The DS30 index, comprising blue chips, fell 5.32 points to finish at 1,842 and the DSE Shariah Index lost 4.29 points to close at 1,200.
According to LankaBangla Securities, the downward shift in the index is mainly driven by significant negative changes in all of the large-cap sectors except fuel & power.
Among the major sectors, banking witnessed the highest correction of 0.60 per cent, followed by financial institutions with 0.48 per cent, telecom 0.47 per cent, engineering 0.46 per cent and food 0.17 per cent.
Turnover, another important indicator of the market, also dipped below Tk 5.0 billion-mark and amounted to Tk 4.40 billion, which was 18 per cent lower than the previous day's Tk 5.38 billion.
The textile sector kept its dominance in the turnover chart, grabbing 20 per cent of the day's total turnover, closely followed by power with 19 per cent and pharmaceuticals 14 per cent.
"Selling of shares particularly from bank, financial institution, telecom and engineering issues contributed to the fall in DSEX to its lowest point since 08 January 2017," commented International Leasing Securities.
The losers took a strong lead over the gainers as out of 339 issues traded, 214 closed lower, 79 advanced and 46 securities unchanged on the premier bourse.
A total number of 115,786 trades were executed in the day's trading session on the DSE with trading volume of 105.14 million securities.
The market capitalisation of the DSE also fell to Tk 3,788 billion on the day which was Tk 3,797 billion in the previous session.
Khulna Power Company continued to dominate the DSE turnover chart with 4.92 million shares worth Tk 475 million changing hands.
The other turnover leaders were VFS Thread Dyeing, SK Trims Indutsries, United Power and Pharma Aids.
VFS Thread Dyeing was the day's best performer, posting a gain of 9.98 per cent while Savar Refractories was the worst loser, losing 8.11 per cent.
The Chittagong Stock Exchange (CSE) also ended lower with its CSE All Share Price Index-CASPI-losing 51 points to settle at 15,979 and the Selective Categories Index - CSCX -shedding 31 points to finish at 9,680.
The losers beat gainers as 157 issues closed lower, 66 ended higher, with 32 issues remaining unchanged on the CSE.
The port city bourse traded 5.99 million shares and mutual fund units worth Tk 169 million in turnover.
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