Turnover falls below Tk300cr again as indices slip
Concerns about a return of political movements in the country seem to have worsened things for an already bleak market
The Dhaka bourse indices failed to stay afloat on Thursday amid an overall decrease in investor participation that squeezed the daily turnover by 5% to Tk296 crore.
DSEX, the key index of the Dhaka Stock Exchange (DSE), closed 0.09% lower at 6,228 points. Shariah index DSES and blue-chip DS30 also slipped 0.1% and 0.2% respectively.
According to the daily market commentary of EBL Securities on Thursday, a prolonged bearish sentiment, resulting from ongoing macroeconomic tensions, is a major factor that negatively impacted the market.
Also, concerns regarding a return of political movements in the country seem to have worsened things for an already bleak market, the review added.
"The absence of a major trigger in the market weakened the confidence of investors in taking long-term positions in equities, prompting them to liquidate their portfolios and remain on the sidelines," EBL Securities analysts added.
As soon as the turnover hit below Tk300 crore earlier on Tuesday, the securities regulator took out its much used weapon of fund injection through various entities in a move to support the market.
But, the stock market barely seemed to count on this attempt as investors held their cautious stance.
Like the other days of the week, eight in every ten scrips were stuck on their floor prices. Only 18 scrips advanced in the DSE on Thursday while 54 declined.
