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Stocks extended the losing streak on Thursday, with the key index falling below the 6200 mark, as large-cap shares continued to face sale pressure after withdrawal of the floor price.
Market analysts said most investors wanted to get rid of their holdings that had been stuck on the floor for a long time.
Large-cap stocks such as United Power, Walton, Beacon Pharma, Beximco Pharma and Bangladesh Submarine Cable saw major corrections, taking the market index down.
These five stocks accounted for 28 points fall in the major index of the Dhaka bourse on Thursday, according to amarstock.com.
Following the previous day’s fall, the market opened on a positive note today. The trend continued for a few minutes but failed to sustain amid selling pressure from the major shares.
Subsequently, DSEX, the benchmark index of the Dhaka Stock Exchange, shed more than 70 points, or 1.13 per cent to 6,156. The DSEX shed 120 points in the two straight sessions.
The DS30 Index, which consists of blue-chip companies, went down by more than 24 points to 2,114, while the DSES index, which represents Shariah-based companies, dropped 20 points to 1,352.
Turnover, a crucial indicator of the market, also fell 26 per cent to Tk 8.71 billion from the previous day’s Tk 11.73 billion.
The majority of the stocks saw price erosion, as out of the 389 issues traded, 282 declined, 85 advanced, and 22 remained unchanged on the DSE trading floor.
The Chittagong Stock Exchange (CSE) also ended sharply lower, with the CSE All Share Price Index (CASPI) losing 259 points to 17,552, while the Selective Categories Index (CSCX) shed 154 points to close at 1,0510.