Sell off continues, DSEX down to 53-day low
Sell pressure at both the bourses continued on Sunday as the recent tightening of monetary policy by the central bank added to the investors' woes amid the prevailing economic and political concerns.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), plummeted by 24.5 points on Sunday and settled at 6,237, which was the lowest since the last 53 days.
The port-city bourse Chittagong Stock Exchange also settled in the red terrain. The selected indices (CSCX) and All Share Price Index (CASPI) declined by 32.8 and 54.3 points to close at 11,046 and 18,477 respectively.
In its daily market commentary, EBL Securities said the market experienced a downward trend throughout the session as investors continued to offload their holdings in order to protect their funds and minimise their losses from the ailing market.
Meanwhile, investor participation remained sluggish as most investors preferred to remain on the sidelines. The DSE turnover fell by 5.6% to Tk367 crore on Sunday compared to the previous trading session.
On the sectoral front, general insurance contributed the highest 21.8% to the day's turnover, followed by food and allied adding 17.1%, and travel adding 9.4%.
Almost all the sectors displayed dismal returns, out of which, general insurance saw the highest price correction of 4.2%, followed by IT losing 2.6%, and services losing 1.6%.
On the other hand, only tannery exhibited a positive return, that too, a meagre 0.1%.
Out of the 392 issues traded, 13 advanced, 134 declined and 245 remained unchanged at the DSE.