Stocks keep losing on political jitters

Stocks witnessed yet another bearish session on Monday, extending the losing streak for the seventh session in a row, as risk-averse investors continued their selling binge.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 33 points or 0.62 per cent to settle at nearly one and a half month low at 5,218.

The market opened on negative note and the downward trend continued till end of the session with no sign of reversal.

DSEX shed about 143 points or 2.66 per cent losses in the past seven consecutive sessions.

Brokers said small investors are shying away from the market amid ongoing bearish market trend while institutional investors were observing the market movement carefully as the national elections nears.

Two other indices-the DS30 index and the DSE Shariah Index (DSES)-also ended lower.

The DS30 index, comprising blue chips, fell 1.62 points to finish at 1,842 and the DSE Shariah Index lost 5.28 points to close at 1,201.

Total turnover slumped to nearly nine months low since March 28 to Tk 3.14 billion, which was 37 per cent lower than the previous day's Tk 4.99 billion.

The port city bourse CSE also closed lower with its CSE All Share Price Index - CASPI -losing 97 points to settle at 16,028 and the Selective Categories Index - CSCX -shedding 56 points to finish at 9,697.

[email protected]