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Stocks extended the losing streak for the second day in a row on Sunday, as cautious investors continued their selling spree on large-cap sectors.
Analysts said investors were mostly on selling mood following the news of major banking scams, rising non-performing loans coupled with falling foreign portfolio investment in the Dhaka bourse.
According to a Centre for Policy Dialogue (CPD) report, scams in 14 banks cost Tk 225 billion in the past decade, which is about four-fifth of the project cost for Padma bridge.
The market opened on negative note and fell steadily throughout the session with no sign of reversal.
At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,306, losing 26.57 points or 0.49 per cent over the previous day.
Two other indices—the DS30 index and the DSE Shariah Index (DSES)–also ended lower.
The DS30 index, comprising blue chips, fell 6.80 points to finish at 1,855 and the DSE Shariah Index shed 2.14 points to close at 1,222.
Turnover, another important indicator of the market, remained almost same as total turnover amounted to Tk 5.16 billion, which was Tk 5.14 billion in the previous session.
A total number of 144,569 trades were executed in the day’s trading session with trading volume of 126.99 million securities.
The market capitalisation of the DSE also fell to Tk 3,832 billion on the day which was Tk 3,836 billion in the previous day.
The losers took a strong lead over the gainers as out of 341 issues traded, 195 declined, 112 advanced and 34 issues remained unchanged on the DSE trading floor.
United Power topped the DSE turnover chart with 890,933 shares worth Tk 268 million changing hands.
The other turnover leaders were Advent Pharma, Wata Chemicals, and Pharma Aids.
Fareast Life Insurance was the day’s best performer, posting a gain of 8.92 per cent while RN Spinning Mills was the worst loser, losing 8.16 per cent.
The port city bourse CSE ended lower with its CSE All Share Price Index – CASPI –losing 68 points to settle at 16,257 and the Selective Categories Index - CSCX –shedding 42 points to finish at 9,836.
The losers beat gainers as 165 issues closed lower, 68 ended higher and 16 remained unchanged on the CSE.
The port city bourse traded 7.87 million shares and mutual fund units worth more than Tk 202 million in turnover.