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The stock ended 18.29 points down in the premier bourse on Sunday, as jittery investors continued to sell off their holdings as investors went for panic sell-offs amid growing concerns over economic uncertainties.
Stocks opened higher on Sunday, as sales pressure was reduced to some extent. But it could not sustain the upward trend at the end.
The prime index of the Dhaka Stock Exchange (DSE) went down 18.29 points to settle at 5,234.
The premier index was 23 points up on Thursday after an 8.22 per cent fall from May to 13 May 28. There was only one trading session where index increased within that time other 11 sessions saw decline in index.
Just after one day the stock back into a losing streak.
The blue-chip index DS30, a group of 30 prominent companies, saw a more than 7.79 points decline to 1867.04 while the DSES Index, which represents Shariah-based companies, lost 6.44 points to 1,137.26 till the end.
Turnover, a crucial indicator of the market, stood at Tk 3.49 billion at the end of trading which was 6.67 per cent lower than earlier trading days.
The rising interest rates already turned fixed-income instruments more lucrative compared to the equity market, while a further rate hike is likely to worsen the situation.
Besides, the news of a possible capital gain tax to be imposed on gains exceeding Tk 4.0 million and an increased corporate tax rate hike dampened the market sentiment severely, said market experts.
The majority of the stocks saw price erosion, as out of the 391 issues traded, 124 closed higher, 219 ended lower and 48 remained unchanged on the DSE trading floor.
Beach Hatchery Ltd., the most-traded stock with shares worth Tk 138.59 million changing hands, followed by Asiatic Laboratories Limited, Alif Industries Limited, Orion Pharma Ltd., and eGeneration Limited.
The Chittagong Stock Exchange (CSE) ended lower with its All Share Price Index (CASPI) losing 52.5 points to settle at 15020 and the Selective Categories Index (CSCX) losing 33.78 points to 9034.
The port city bourse traded 10.63 million shares and mutual fund units with a turnover volume of Tk 873 million.