Stocks continue bleeding, turnover drops 32%
The indices of the Dhaka Stock Exchange experienced a fall for the second consecutive day as investors cautiously observed the market for the upcoming monetary policy and engaged in profit booking within the life insurance sector.
On Tuesday, the turnover of the bourse dropped by 32% to Tk669 crore from Tk981 crore in the previous session.
The premier index of the Dhaka bourse, DSEX, dropped by 12 points and settled at 6,299 points. However, the blue-chip index DS30 managed to rise by 0.11 points, reaching 2185 points.
Keep updated, follow The Business Standard's Google news channel
On the other hand, the Shariah-compliant stocks' index DSES experienced a decline of 3 points, closing at 1,369 points during this period.
In terms of individual stock performance, 45 scrips advanced, 121 declined, and 168 remained unchanged.
The trading initially started on a higher note, but this positive sentiment lasted only for 15 minutes before the market adopted a mix-trend until 1pm. But at the end of the session, the prime index fell down 12 points.
Market insiders said the maximum loan interest rate of 9% is being waived. Apart from this, one of the conditions of International Monetary Fund (IMF) lending is market-based interest rates.
If the central bank waived maximum loan interest, the money flow will increase in the bank instead of the stock market, they said.
