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Stock ended 22.55 points down in the premier bourse on Tuesday, extending its losing streak as panicked investors continued to sell-off their holdings amid growing concerns over economic uncertainties.
Though stocks witnessed a positive trend in the early hours of trading on Tuesday following regulatory support. But the upward trend could not continue in the end.
The stock market regulator increased the free limit facility for ICB Securities, a subsidiary of the Investment Corporation of Bangladesh, from Tk 100 million to Tk 500 million.
That means ICB Securities can invest up to Tk 500 million in a single day using credit facilities, although the loan must be settled by the end of the day, with ICB acting as a guarantor.
Institutional buying support, particularly ICB, added strength to the equity indices despite overall market sentiment still remaining subdued, said a stockbroker.
The DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down 22.55 points to settle at 5,371.
The prime index has lost nearly 5.72 per cent in the last 7 trading days. The current index is the lowest in the last 37 months. DSEX was lower than this on 19th April 2021. The index was 5350 on the day.
The blue chip index DS30, a group of 30 prominent companies, saw more than 8.95 points fell to 1930 while the DSES Index, which represents Shariah-based companies, lost 6.2 points to 1,174.55 till the end.
Turnover, a crucial indicator of the market, stood at Tk 5.92 billion at the end of trading. Which was 5.42 per cent higher than earlier trading days.
The majority of the stocks saw price erosion, as out of the 393 issues traded, 102 closed higher, 235 ended lower and 56 remained unchanged on the DSE trading floor.
Orion Pharma Ltd. the most-traded stock, with shares worth Tk 437 million changing hands, followed by Taufika Foods and Lovello Ice-cream, Asiatic Laboratories Limited, Best Holdings Limited, and Beach Hatchery Limited.
The Chittagong Stock Exchange (CSE) ended lower with its All Share Price Index (CASPI) losing 47 points to settle at 15558 and the Selective Categories Index (CSCX) losing 32 points to 9361.
The port city bourse traded 3.01 million shares and mutual fund units with a turnover volume of Tk 75.5 million.