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Stocks slipped back into the red on Sunday amid lack of investors’ confidence to the ongoing bearish market.
Market analysts said the anxious investors continued their selling binge amid dearth of quality stocks, lack of confidence and shortage of liquidity in the money market.
Lower than expected divided and quarterly earnings disclosures some of the companies also made investors frustrated, said a leading broker.
The news that the securities regulator has called an emergency meeting with the DSE top brokers in the evening on Sunday, also failed to lift the market.
The market opened on negative note and downturn continued until end of the session amid modest volatility.
At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at fresh four-month low to 5,238, losing 27.98 points or 0.53 per cent over the previous day.
Two other indices also ended lower. The DS30 index, comprising blue chips, fell 8.02 points to finish at 1,855 and the DSE Shariah Index lost 5.62 points to close at 1,209.
Turnover, another important indicator of the market, however, also fell to Tk 3.44 billion, which was 10 per cent lower than the previous day’s Tk 3.82 billion.
The losers took a strong lead over the gainers as out of 344 issues traded, 208 declined, 95 advanced and 41 issues remained unchanged on the DSE trading floor.
A total number of 107,592 trades were executed in the day’s trading session with trading volume of 91.80 million securities.
The market capitalisation of the DSE also fell to Tk 3,873 billion on Sunday, from Tk 3,894 billion in the previous day.
National Polymer topped the turnover chart with 1.72 million shares worth Tk 169 million changing hands.
The other turnover leaders were Fortune Shoes, Monno Ceramic, National Tubes and Bangladesh Submarine Cable Company.
Generation Next Fashion was the day’s best performer, posting a gain of 9.97 per cent while Agrani Insurance was the worst loser, losing 17.09 per cent following its lower dividend declaration.
The port city bourse, Chittagong Stock Exchange, also ended lower with its CSE All Share Price Index – CASPI –shedding 93 points to settle at 16,052 and the Selective Categories Index - CSCX –losing 59 points to finish at 9,710.
Here too, the losers beat gainers, as 129 issues closed lower, 84 ended higher and 22 remained unchanged on the CSE.
The port city bourse traded 4.97 million shares and mutual fund units worth Tk 143 million in turnover.