Business Desk :
Stocks extended the losing streak for the five consecutive sessions on Wednesday as shaky investors continued their sell-offs amid lower than expected earnings declaration of many companies.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 29.44 points or 0.60 per cent to settle at 4,838.
DSEX lost more than 78 points in the past five consecutive sessions.
Two other indices also ended lower. The DS30 index, comprising blue chips, lost 9.91 points to finish at 1,665 and the DSE Shariah Index shed 8.77 points to close at 1,094.
Market analysts said investors were gradually ramping up their sales pressure based on the latest corporate declarations while some investors engaged in portfolio rebalancing amid ongoing earnings and dividend declaration sessions.
Lower than expected earnings and dividend declaration of many companies prompted some investors to liquidate their holdings, said a merchant banker.
The general insurance sector continued to attract the investors which have been reflected in the daily turnover board over the last couple of months.
Turnover, a crucial indicator of the market, however, crossed Tk 11 billion-mark and amounted to Tk 11.12 billion, which was 11 per cent higher than the previous day’s turnover of Tk 10 billion.
It was the highest single-day turnover in six weeks since September 16, when turnover recorded Tk 11.47 billion.
Stocks extended the losing streak for the five consecutive sessions on Wednesday as shaky investors continued their sell-offs amid lower than expected earnings declaration of many companies.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 29.44 points or 0.60 per cent to settle at 4,838.
DSEX lost more than 78 points in the past five consecutive sessions.
Two other indices also ended lower. The DS30 index, comprising blue chips, lost 9.91 points to finish at 1,665 and the DSE Shariah Index shed 8.77 points to close at 1,094.
Market analysts said investors were gradually ramping up their sales pressure based on the latest corporate declarations while some investors engaged in portfolio rebalancing amid ongoing earnings and dividend declaration sessions.
Lower than expected earnings and dividend declaration of many companies prompted some investors to liquidate their holdings, said a merchant banker.
The general insurance sector continued to attract the investors which have been reflected in the daily turnover board over the last couple of months.
Turnover, a crucial indicator of the market, however, crossed Tk 11 billion-mark and amounted to Tk 11.12 billion, which was 11 per cent higher than the previous day’s turnover of Tk 10 billion.
It was the highest single-day turnover in six weeks since September 16, when turnover recorded Tk 11.47 billion.
