Stocks on both Dhaka and Chittagong bourses fell for a third consecutive day yesterday as investors went on a selling spree, disappointed at the market for not meeting hopes of going up after the national polls.
The DSEX, the benchmark index of Dhaka Stock Exchange (DSE), declined 29.22 points, or 0.51 percent, finishing the day at 5,653.21, the lowest since January 2.
Market insiders say the market needs institutional support to boost investors' confidence. Turnover, another important indicator of the market, however, soared 13.85 percent to Tk 708.12 crore, with 14.09 crore shares and mutual fund units changing hands on the DSE.
Of the traded issues, 71 securities advanced and 242 declined while 33 closed unchanged on the premier bourse.
Dutch-Bangla Bank dominated the turnover chart with 27.90 lakh shares worth Tk 62.39 crore being traded, followed by British American Tobacco Company Bangladesh, United Power Generation, Brac Bank, and Uttara Bank. Among the major sectors, banks advanced 1.6 percent, non-bank financial institutions 0.5 percent and pharmaceuticals 0.30 percent.
Conversely, non-life insurance and telecom stocks gave up 2.21 percent and 1.99 percent respectively. Dutch-Bangla Bank was the day's best performer with a 16.67 percent gain. Republic Insurance was the worst loser, shedding 9.12 percent.
Chittagong stocks also fell. The bourse's benchmark index, the CSCX, declined 35.19 points, or 0.33 percent, to finish at 10,521.26. Losers beat gainers as 172 issues declined and 55 advanced while 25 finished unchanged on Chittagong Stock Exchange. The bourse traded 61.30 lakh shares and mutual fund units worth Tk 20.10 crore.