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Stocks extended the losing streak for three days in a row on Thursday as cautious investors chose to reduce their capital market exposure amidst concerns over the market outlook owing to a challenging external environment.
The investor sentiment has been affected by the potential interest rate hikes in the money market following the latest increase in policy rates and discontinuation of the existing SMART reference rate, said a leading broker.
Alongside, a further devaluation of the local currency may also have an impact on the current market recovery.
Stocks witnessed choppy trading throughout the day while sellers took control of the trading floor at the end of the session.
The DSEX, the key index of the Dhaka Stock Exchange (DSE), finally went down by nearly 30 points or 0.52 per cent to settle at 5,661. The DSEX lost 66 points in the three trading days.
The blue-chip index DS30, a group of 30 prominent companies, also dropped almost 11 points to 2015 while the DSES Index, which represents Shariah-based companies, shed 8 points to 1,242.
Turnover, a crucial indicator of the market, stood at Tk 9.1130 billion, a 5.0 per cent increase over the previous day.
Most of the traded issues saw the price fall as out of 392 issues traded, 258 saw price erosion, 93 closed higher and 41 remained unchanged.
The Chittagong Stock Exchange (CSE) also ended lower with the CSE All Share Price Index – CASPI –losing 81 points to 16,232.