DSEX slips 1.6% due to sell pressure
The index lost 140 points in the last three consecutive trading sessions
DSEX, the key index of the Dhaka Stock Exchange (DSE) dropped by 94.55 points or 1.63% to settle at 5,695 on Tuesday owing to the sell pressure by institutional investors.
The index lost 140 points in the last three consecutive trading sessions.
Turnover, one of the major indicators of the market, also fell by 29% to Tk1,125 crore.
Out of the 357 issues traded, only 27 advanced while 255 declined and 75 remained unchanged at the DSE on Tuesday.
EBL Securities said, in its daily market review, the market has been slowing down steadily as many merchant banks insisted on adjusting the loan ratio because they were unable to provide loans at such a low rate due to their high cost of funds.
Recently, the stock market regulator fixed the highest interest rate at 12% on margin loans disbursed against listed securities with the highest spread on the cost of margin loans at 3%.
Beximco Limited led the turnover chart with trading value of Tk143 crore, followed by Energypac Power with Tk114 crore and Robi Tk103 crore.
Energypac Power Generation was the top loser and faced a major correction of 9.93%, after soaring 199% in the past five consecutive sessions from its offer price of Tk31 each since debut on 19 January.
British American Tobacco was the day's best performer, posting gains of 4.71%.