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Stocks keep losing amid lackluster trading

DSE turnover hits two-month low

FE REPORT | February 03, 2021 00:00:00

Stocks witnessed yet another bearish session on Tuesday as risk-averse investors continued their sell-offs on major sector issues amid persistently lackluster trading.

DSEX, the key index of the Dhaka Stock Exchange (DSE), slumped further by 35.10 points or 0.62 per cent to settle at 5,564. The prime index lost more than 160 points in the past three consecutive sessions.

The daily trade turnover on the DSE remained below Tk 8.0 billion-mark, hitting two months low to Tk 7.02 billion, as investors were reluctant to take fresh exposure in the market.

It was the lowest single-day transaction since December 1, 2020, when the turnover totalled a record Tk 6.63 billion.

Market analysts said the risk-averse investors continued releasing their holdings in sector-wise stocks as the latest earnings declarations failed to meet investors' expectations.

Lower-than-expected earnings declarations, pressure on margin loans adjustment to regulatory allowable limit coupled with price fall of large-cap stocks continued to put negative impact on the market, they said.

Two other indices also ended lower. The DSE 30 Index comprising blue chips shed 16.03 points to finish at 2,109 and the DSE Shariah Index (DSES) fell 8.04 points to close at 1,246.

The Chittagong Stock Exchange (CSE) also fell sharply with the CSE All Share Price Index - CASPI -losing by 99 points to settle at 16,197 and the Selective Categories Index - CSCX shedding 61 points to close at 9,771.

Of the issues traded, 105 declined, 71 advanced and 64 remained unchanged on the CSE.

The port city's bourse traded 15.09m shares and mutual fund units with turnover value of Tk 1.0b.

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