Stocks widen losses

Most shares on the Dhaka Stock Exchange fell because of continued lower participation of investors and selling pressure.

This was the third consecutive day of decline as uncertainty gripped investors for ongoing tension between the Bangladesh Bank and the Bangladesh Securities and Exchange Commission on multiple regulatory issues.

The DSEX, the benchmark index of the premier bourse, lost 44 points, or 0.64 per cent, to close at 6,837. Turnover rose 55 per cent to Tk 1,080 crore.

"All the large-cap sectors posted negative performance," said Brac EPL Stock Brokerage Ltd in its daily market update after the close of yesterday's trade.

Telecommunication experienced the highest loss of 1.26 per cent followed by non-bank financial institutions.

Engineering, fuel and power, pharmaceuticals as well as food and allied sectors maintained the bearish run. One Bank Ltd was the most traded stock with its shares worth Tk 124.9 crore changing hands.

On the DSE, 88 stocks advanced, 249 declined, and 40 remained unchanged.

"Investors' selling appetite was observed to a great extent after the second hour of trade," said International Leasing Securities Ltd in its market review.

Selling pressure was noticed in almost all of the sectors except tannery, financial institutions, and general insurance sectors.

The investors' participation in the tannery sector was remarkably high and achieved the highest price appreciation of 7.1 per cent among all the sectors.

Fortune Shoes topped the gainers' list that rose 9.44 per cent followed by AMCL Pran, Apex Footwear, Pharma Aids, and Apex Foods.

Shyampur Sugar was the worst performer on the day, dropping 8.08 per cent followed by Zeal Bangla Sugar Mills, One Bank, Meghna Pet Industries, and GBB Power.

The CASPI, the main index of the Chittagong Stock Exchange, lost 173 points, or 0.86 per cent, to end the day at 19,984.