The Financial Express

Stocks keep falling amid confidence crisis

| Updated: December 22, 2021 15:27:21

Stocks keep falling amid confidence crisis

Stocks extended the losing streak for the two consecutive sessions on Monday as cautious investors continued their selling binge on sector-wise issues.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 46.63 points or 0.68 per cent further to settle at 6,736. DSEX eroded more than 131 points in the two straight sessions.

Two other indices also ended lower with the DSE 30 Index, comprising blue chips, losing 19.04 points to finish at 2,528 and the DSE Shariah Index (DSES) shed 10.59 points to close at 1,432.

Turnover, a crucial indicator of the market, stood at Tk 8.07 billion, which was 2.67 per cent higher than the previous day’s tally of Tk 7.86 billion.

Market insiders said the investors were struggling with a lack of confidence amid concern over omicron while a tussle between two regulators over some policy disputes affected their sentiments badly.

The nervous investors continued their selling spree as the ongoing tension over the policy disputes between Bangladesh Bank and Bangladesh Securities and Exchange Commission took a new turn on perpetual bond issue, according to a stockbroker.

Losers took a strong lead over the gainers, as out of 374 issues transacted, 241 declined, 100 advanced and 33 remained unchanged on the DSE trading floor.

Beximco was the most traded stock with shares worth Tk 1.28 billion changing hands, followed by Genex Infosys (Tk 372 million), ONE Bank (Tk 372 million),  Asia Insurance (Tk 278 million), and Sena Kalyan Insurance (Tk 174 million).

Asia Insurance was the highest gainer, gaining 9.27 per cent while Khan Brother PP Woven Bag Industries was the day’s worst loser, losing 6.52 per cent.

The Chittagong Stock Exchange (CSE) also kept losing with the CSE All Share Price Index – CASPI –shedding 142 points to settle at 19,596 and the Selective Categories Index – CSCX—losing 83 points to close at 11,778.

Of the issues traded, 193 declined, 69 advanced and 27 remained unchanged on the CSE.

The port city bourse traded 20.39 million shares and mutual fund units with a turnover value of Tk 916 million.

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