Stocks keep falling

Dhaka stocks continued to fall yesterday while the benchmark index dropped to one-and-a-half-month low.

The DSEX declined 31.64 points to 4,671.33. In the last four trading days, the market shed 87.48 points, or Tk 4,575 crore.

Stock investors are suffering from a lack of confidence at a time when institutional investors have gone for a selling spree.

A top broker said the prices of the shares they have invested in have fallen, keeping their funds stuck in a place.

“We have no funds available now to invest, as we are in loss now. We can’t sell these stocks and can’t buy new ones, although many good stocks have become lucrative due to the recent market slide.”

New funds are a must to revive the index and the government should take strong steps to restore investors’ confidence, he added.

Turnover, another important indicator of the market, dropped 6.42 percent to Tk 432.41 crore.

Of the traded issues, 106 advanced, 192 declined, and 48 remained unchanged.

SK Trims dominated the turnover chart with a transaction of Tk 15.90 crore worth of shares, followed by Saiham Cotton, Sonar Bangla Insurance, Indo-Bangla Pharmaceuticals, and Paramount Insurance.

Intech Ltd was the day’s best performer with 10 percent gain, while Familytex was the worst loser, shedding 11 percent.

Chattogram stocks also fell with the bourse’s benchmark index, CSCX, decreasing 54.20 points, or 0.62 percent, to finish the day at 8,622.71.

Losers beat gainers as 82 advanced, 141 declined and 26 finished unchanged on the Chittagong Stock Exchange.

The port city bourse traded shares and mutual fund worth Tk 25.06 crore.