Stocks plunge amid political tumult

Stocks fell 4.54 percent last week as investors sold shares amid cloudy outlook on the political front.
DSEX, the benchmark general index of the Dhaka Stock Exchange, closed the week at 3,681.66 points, after falling 174.96 points.
The market witnessed four trading sessions instead of five as Independence Day, a public holiday, fell on Tuesday.
"As the grim business outlook over political instability has been pulling sentiment down for a while, reluctance grows stronger amid panicked investors over fresh positioning," IDLC Investments said in its weekly analysis.
Investors were reluctant to invest in the market due to the ongoing political turmoil, the investment banker said.
“Stocks went back to the negative terrain again sharply amid political unrest after consecutive gaining streaks in the last two weeks," LankaBangla Securities said in its weekly market analysis. "Investors were aggressive in selling shares as DGEN went down below the recent low of 3,840 points on Monday.”
Moreover, a two-day nationwide shutdown intensified panic among the investors, the stockbroker said.
"Overall business and economy is getting adversely affected from these strikes which have created higher level of panic among the investors," observed Zenith Investments in its weekly market analysis.