Stocks keep losing

Stocks witnessed yet another bearish session on Wednesday as worried investors continued their selling binge on sector-wise shares.

The market opened on positive note, adding 35 points within first 20 minutes of trading, but late hours selling pressure led the index fall in the later part of the session.

At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange, went down by 40.96 points or 0.83 per cent to settle at more than 33-months low at 4,888.

Five large-cap shares - Square Pharma, Grameenphone, BATBC, Renata and Bangladesh Submarine Cable Company contributed 31 points fall of DSEX.

Two other indices also ended lower. The DS30 index, comprising blue chips, fell 15.96 points to finish at 1,735 and the DSE Shariah Index lost 16.34 points to close at 1,130.

Turnover, a crucial indicator of the market, also fell to Tk 3.71 billion, which was 15 per cent lower than the previous day's Tk 4.35 billion.

EBL Securities said stock continued to bleed and settled at 33 months low in spite of central bank's declaration to ease AD ratio at previous level concerning liquidity scenario.

Investors' pessimistic perception kept on panic sell pressure to avoid loss as they dread of further decay. A sweep in the price of large-cap stocks like Square Pharma, GP and BATBC contributed to the market plunge.

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