The banking sector experienced 1.6 percent price correction on Tuesday
Indices carried forward their bearish trend to the third day of the week as investors remained skeptical about a market recovery.
DSEX, the key index of the Dhaka Stock Exchange, suffered another big loss and dipped to its 43-month low below 4,300 points mark on Tuesday. The index is currently hovering around its mid-2016 points level.
Declining macroeconomic indicators, the banking sector's NPL woes and push for implementation of single digit interest rate have aggravated the already diminishing investors' confidence, said the Daily Market Review of EBL Securities Ltd.
The banking sector extended its losses and experienced a 1.6 percent price correction on Tuesday.
The cement sector was the only sector with gains. The sector advanced 0.3 percent while all other sectors ended in the negative zone, showed the Daily Market Review of EBL Securities Ltd.
Investors are pulling out funds to dodge the correction phase, putting pressure on the sectoral giants, the report added.
Among the gainers, Delta Spinners Ltd registered the highest gain of 8.9%, closing at Tk4.9 per share. Zeal Bangla Sugar Mills Ltd was the day's worst loser, giving up 9.9% closing at Tk30.9 per share.
DSEX shed 50 points or 1.2 percent to close at 4,281 points while CASPI, the key index at the Chittagong Stock Exchange dropped 224 points or 1.7 percent to settle at 13,010 points.
The ADN Telecom Ltd topped the turnover table on its second trading session with Tk27.6 crore turnover, closing at Tk40.2 per share.
Out of 354 issues traded, 42 advanced, 269 declined and 43 remained unchanged on the premier bourse of the country.