Stocks slip back into the red after a single-day break
Stocks slipped to the red terrain again on Monday after the previous day's positive session as investors barely came out of their cautious stance and engaged in selling shares rather than placing fresh bets in the bearish market.
DSEX, the broad-based index of the Dhaka Stock Exchange (DSE), fell by 0.36% to close at 6,639 points against a 0.32% gain on Sunday.
Out of the 385 issues traded, 92 advanced, 233 declined, and 60 remained unchanged in the DSE.
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Stockbrokers and analysts blame the inflation pressure, heating money market, and a gloomy corporate earnings outlook which hurt investors' confidence.
The Dhaka bourse observed lacklustre trading since most investors are reluctant to invest spontaneously in the market due to the temporary bottom circuit breaker of 2%, for which many equities remained dearer to the investors at the current price level.
Turnover declined by 13.4% to Tk557 crore in the DSE on Monday.
Non-bank financial institutions, engineering, and IT sectors contributed the most to the daily turnover in the DSE.
Low-cap sectors like paper, jute, and food displayed some positive returns while most others faced a decline. Services and real estate, IT and travel sectors faced at least a 1% drop in their respective market capitalisations.
