Stocks tumble again as major sectors slump

Stocks plummeted on Monday, after a single-day break, as shaky investors booked quick-profit on major sectors' shares.

Market analysts said the risk-averse investors opted to book short-term gain on stocks that witnessed substantial price surges over the last two sessions.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 59.55 points or 1.11 per cent to settle at 5,276, after adding 140 points in the past two sessions.

The investors remained cautious despite the central bank exempted banks' investments in non-listed companies from capital market exposure as liquidity crunch in the money market persisted, said an analyst.

He noted that many investors followed cautious stance during holy Ramadan while some sold shares to free up funds ahead of Runner Automobile's debut.

The Runner Automobile makes its share trading debut today (Tuesday) on bourses.

The market opened on downward trend and the downturn continued until end of the session amid modest volatility.

Two other induces also ended lower. The DS30 index, comprising blue chips, fell 16.48 points to finish at 1,833 and the DSE Shariah Index shed 15.96 points to close at 1,199.

Turnover, another important indicator of the market, also fell to Tk 3.87 billion, which was 12.6 per cent lower than the previous day's turnover of Tk 4.43 billion.

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